Moloney Securities Asset Management LLC Invests $209,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 756 shares of the business services provider’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $27,000. Hexagon Capital Partners LLC increased its stake in 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 worth $32,000 after purchasing an additional 51 shares during the period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the first quarter worth $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the first quarter worth $36,000. Finally, New Millennium Group LLC purchased a new stake in shares of Automatic Data Processing during the second quarter valued at $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ADP. 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. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. 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. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Down 0.1 %

ADP opened at $304.85 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 firm has a market cap of $124.21 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.37 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $223.28 and a 12 month high of $306.71. The stock has a fifty day moving average price of $282.92 and a 200-day moving average price of $261.11.

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 analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Activity at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’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 transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. 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 hyperlink. In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. Insiders own 0.21% of the company’s stock.

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.