Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Kathmere Capital Management LLC

Kathmere Capital Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,121 shares of the business services provider’s stock after purchasing an additional 798 shares during the quarter. Kathmere Capital Management LLC’s holdings in Automatic Data Processing were worth $1,499,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing during the 3rd quarter worth $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC raised its stake 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 worth $32,000 after buying an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.5 %

NASDAQ:ADP opened at $291.69 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The business’s 50-day moving average is $298.48 and its two-hundred day moving average is $279.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $118.85 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is 65.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADP shares. Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $289.91.

About Automatic Data Processing

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.