Kennebec Savings Bank Invests $960,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kennebec Savings Bank purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,470 shares of the business services provider's stock, valued at approximately $960,000.

A number of other hedge funds 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 worth about $27,000. Hexagon Capital Partners LLC grew its holdings 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 worth $32,000 after buying an additional 51 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the 3rd quarter valued at $35,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the 1st quarter worth $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADP shares. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Barclays increased their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Citigroup boosted their price objective 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. TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Finally, StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maria Black sold 19,147 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 $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,792 shares of company stock valued at $27,691,708. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Up 0.7 %

ADP traded up $2.05 during midday trading on Monday, hitting $306.78. 880,048 shares of the company's stock traded hands, compared to its average volume of 1,634,259. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $125.00 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79. The stock's fifty day simple moving average is $284.12 and its 200-day simple moving average is $262.03. Automatic Data Processing, Inc. has a one year low of $226.09 and a one year high of $308.54.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. As a group, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 59.77%.

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.