Automatic Data Processing, Inc. (NASDAQ:ADP) is First Long Island Investors LLC's 3rd Largest Position

First Long Island Investors LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,446 shares of the business services provider's stock after acquiring an additional 3,028 shares during the period. Automatic Data Processing makes up about 4.4% of First Long Island Investors LLC's investment portfolio, making the stock its 3rd largest holding. First Long Island Investors LLC's holdings in Automatic Data Processing were worth $56,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the second quarter valued at $27,000. Hexagon Capital Partners LLC grew its position 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 valued at $32,000 after purchasing an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the third quarter valued at $35,000. Crewe Advisors LLC bought a new position in Automatic Data Processing in the first quarter valued at $33,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing in the 1st quarter valued at about $36,000. Institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ADP shares. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Citigroup lifted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $4.35 during trading on Friday, reaching $297.64. The company's stock had a trading volume of 1,457,736 shares, compared to its average volume of 1,633,247. The firm has a 50 day moving average price of $286.67 and a 200 day moving average price of $263.50. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. 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 capitalization of $121.28 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. The company 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared 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. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing's dividend payout ratio is 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other 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 sale, the vice president now directly owns 10,410 shares of the company's stock, valued at approximately $2,816,946. This represents a 7.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the company's 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 directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 23.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by company insiders.

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.