5,675 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by GUNN & Co INVESTMENT MANAGEMENT INC.

GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,675 shares of the business services provider’s stock, valued at approximately $1,570,000.

Several other large investors also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the second quarter valued at about $27,000. Keener Financial Planning LLC raised its holdings in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Automatic Data Processing by 78.5% in the third 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. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the first quarter worth $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the 1st quarter valued at $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADP. Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $290.04 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $118.71 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The business has a 50-day simple moving average of $278.40 and a 200-day simple moving average of $257.89.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s payout ratio is 62.50%.

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.