Joel Isaacson & Co. LLC Buys 186 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Joel Isaacson & Co. LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,207 shares of the business services provider’s stock after buying an additional 186 shares during the period. Joel Isaacson & Co. LLC’s holdings in Automatic Data Processing were worth $1,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its holdings in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after purchasing an additional 99,515 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth $2,924,000. Finally, LVW Advisors LLC raised its stake in Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 740 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ADP. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. UBS Group boosted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group raised their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $275.33.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 $23,959,908.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Automatic Data Processing news, 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 completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.5 %

ADP stock opened at $287.96 on Friday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The stock has a market cap of $117.86 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $278.92 and its 200 day moving average is $258.11.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Automatic Data Processing Company 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.