Curi RMB Capital LLC Buys 684 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Curi RMB Capital LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,669 shares of the business services provider’s stock after buying an additional 684 shares during the quarter. Curi RMB Capital LLC’s holdings in Automatic Data Processing were worth $2,122,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing in the first quarter valued at about $33,000. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $36,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 1.4 %

Shares of ADP opened at $297.64 on Friday. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. 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 firm’s fifty day moving average is $286.67 and its two-hundred day moving average is $263.50. The stock has a market cap of $121.28 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company 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 posted $2.08 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business 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. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now owns 41,696 shares in the company, valued at $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. Insiders have sold 97,792 shares of company stock valued at $27,691,708 over the last 90 days. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Mizuho increased their price objective 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. 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 note on Tuesday, October 22nd. Finally, TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus 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.