RIA Advisory Group LLC Makes New $470,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

RIA Advisory Group LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,699 shares of the business services provider’s stock, valued at approximately $470,000.

Several other hedge funds have also made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing in the second quarter valued at $27,000. Hexagon Capital Partners LLC raised its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $35,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADP. Stifel Nicolaus upped their price objective 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. Mizuho upped their target price 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. Bank of America lifted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP 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 company has a market cap of $121.28 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.58 and a beta of 0.79. The business’s 50 day moving average is $287.23 and its two-hundred day moving average is $263.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

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

Automatic Data Processing Increases Dividend

The company also recently disclosed 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 represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is 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 (DPR) is presently 59.77%.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was 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 David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,792 shares of company stock valued at $27,691,708 over the last ninety days. 0.21% of the stock is owned by company 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.