Larson Financial Group LLC Acquires 469 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Larson Financial Group LLC lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,139 shares of the business services provider’s stock after purchasing an additional 469 shares during the period. Larson Financial Group LLC’s holdings in Automatic Data Processing were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ADP. Sompo Asset Management Co. Ltd. grew its holdings in Automatic Data Processing by 8.1% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 2,400 shares of the business services provider’s stock valued at $664,000 after buying an additional 180 shares in the last quarter. WESPAC Advisors LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $201,000. Lane & Associates LLC grew its stake in Automatic Data Processing by 50.2% during the third quarter. Lane & Associates LLC now owns 2,815 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 941 shares in the last quarter. KKM Financial LLC increased its holdings in Automatic Data Processing by 6.2% during the 3rd quarter. KKM Financial LLC now owns 10,118 shares of the business services provider’s stock worth $2,800,000 after acquiring an additional 588 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in Automatic Data Processing by 3.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 28,865 shares of the business services provider’s stock worth $7,988,000 after purchasing an additional 1,008 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $304.67 on Tuesday. 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 $124.14 billion, a PE ratio of 32.51, a PEG ratio of 3.55 and a beta of 0.79. The company’s fifty day moving average is $290.07 and its 200 day moving average is $266.60. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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 the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business 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 dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date 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 is 59.77%.

Insider Transactions at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s 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 sale, the director now directly owns 36,741 shares of the company’s stock, valued at $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 is available through this link. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,504 shares of company stock worth $20,298,056. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent analyst reports. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company 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.