Kerusso Capital Management LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kerusso Capital Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,204 shares of the business services provider’s stock after acquiring an additional 316 shares during the quarter. Kerusso Capital Management LLC’s holdings in Automatic Data Processing were worth $1,440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Empowered Funds LLC increased its holdings in Automatic Data Processing by 50.7% in the first quarter. Empowered Funds LLC now owns 17,304 shares of the business services provider’s stock valued at $4,322,000 after buying an additional 5,818 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Automatic Data Processing by 42.3% in the first quarter. Illinois Municipal Retirement Fund now owns 11,877 shares of the business services provider’s stock valued at $2,966,000 after buying an additional 3,528 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Automatic Data Processing by 17.0% in the first quarter. Atomi Financial Group Inc. now owns 1,826 shares of the business services provider’s stock valued at $456,000 after buying an additional 265 shares during the last quarter. Choate Investment Advisors increased its holdings in Automatic Data Processing by 3.6% in the first quarter. Choate Investment Advisors now owns 38,321 shares of the business services provider’s stock valued at $9,570,000 after buying an additional 1,342 shares during the last quarter. Finally, NorthRock Partners LLC increased its holdings in Automatic Data Processing by 16.6% in the first quarter. NorthRock Partners LLC now owns 1,644 shares of the business services provider’s stock valued at $410,000 after buying an additional 234 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $304.73 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $284.12 and a 200-day simple moving average of $261.82. The company has a market cap of $124.17 billion, a PE ratio of 32.52, a P/E/G ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $225.38 and a 12-month high of $306.92.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results 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. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the company earned $2.08 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock valued at $27,691,708 in the last three months. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADP shares. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Barclays lifted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target 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.