Gilbert & Cook Inc. Has $499,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gilbert & Cook Inc. lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,805 shares of the business services provider’s stock after purchasing an additional 61 shares during the quarter. Gilbert & Cook Inc.’s holdings in Automatic Data Processing were worth $499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Accredited Investors Inc. grew its position in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the period. BlueSpruce Investments LP acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $365,757,000. International Assets Investment Management LLC grew its position in shares of Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after purchasing an additional 552,096 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after purchasing an additional 456,027 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 1.4 %

Shares of Automatic Data Processing stock opened at $297.64 on Friday. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.37. The business’s 50 day moving average is $287.23 and its 200-day moving average is $264.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $121.28 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.46 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is 59.77%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADP. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target 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. Finally, Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the 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 owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is owned by corporate insiders.

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.