CreativeOne Wealth LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

CreativeOne Wealth LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,976 shares of the business services provider’s stock after acquiring an additional 1,339 shares during the quarter. CreativeOne Wealth LLC’s holdings in Automatic Data Processing were worth $1,930,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter valued at about $27,000. Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 51 shares during the period. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter valued at about $35,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the first quarter valued at about $36,000. Finally, MFA Wealth Advisors LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,504 shares of company stock worth $20,298,056. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $306.92 on Friday. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $125.06 billion, a P/E ratio of 32.76, a P/E/G ratio of 3.55 and a beta of 0.79. The stock has a 50 day moving average price of $291.84 and a 200 day moving average price of $267.58.

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 company 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%. Automatic Data Processing’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. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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. Shareholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Analysts Set New Price Targets

Several analysts have issued reports on ADP shares. Stifel Nicolaus boosted 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. UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Barclays increased 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. Jefferies Financial Group increased their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada increased 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.