FORA Capital LLC Has $2.93 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

FORA Capital LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,575 shares of the business services provider’s stock after selling 922 shares during the period. FORA Capital LLC’s holdings in Automatic Data Processing were worth $2,926,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing in the second quarter valued at $27,000. Hexagon Capital Partners LLC grew its stake in Automatic Data Processing by 78.5% in the 3rd 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 last quarter. Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the 3rd quarter valued at about $35,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing in the 1st quarter valued at about $36,000. Finally, New Millennium Group LLC acquired a new stake in Automatic Data Processing during the second quarter worth approximately $40,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $3.31 on Wednesday, reaching $307.97. 1,048,750 shares of the stock were exchanged, compared to its average volume of 1,774,169. 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 cap of $125.49 billion, a PE ratio of 32.87, a P/E/G ratio of 3.55 and a beta of 0.79. The firm’s 50 day moving average is $290.64 and its 200-day moving average is $267.03. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $2.08 earnings per share. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is currently 59.77%.

Insiders Place Their Bets

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction 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 owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 20.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 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 $5,253,553.86. Following the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,504 shares of company stock valued at $20,298,056. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Barclays increased their price objective 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. Stifel Nicolaus boosted 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 report on Thursday, August 1st. Jefferies Financial Group raised their price target on shares of 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, TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.