Claro Advisors LLC Purchases 389 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Claro Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 42.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,315 shares of the business services provider’s stock after acquiring an additional 389 shares during the period. Claro Advisors LLC’s holdings in Automatic Data Processing were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter worth about $27,000. Hexagon Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at approximately $35,000. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC bought a new position in Automatic Data Processing in the 1st quarter valued at approximately $36,000. 80.03% of the stock is owned by institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 23.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock worth $27,691,708 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $297.89 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The company has a 50 day simple moving average of $287.68 and a two-hundred day simple moving average of $264.53. The company has a market capitalization of $121.38 billion, a PE ratio of 31.79, a P/E/G ratio of 3.46 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s payout ratio is currently 65.74%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ADP shares. Bank of America upped their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.