Los Angeles Capital Management LLC Has $10.09 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Los Angeles Capital Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,470 shares of the business services provider's stock after acquiring an additional 3,795 shares during the quarter. Los Angeles Capital Management LLC's holdings in Automatic Data Processing were worth $10,092,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter worth $27,000. Hexagon Capital Partners LLC raised 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 during the period. Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing in the third quarter valued at $35,000. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the 1st quarter worth about $36,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $1.62 during trading on Tuesday, hitting $308.40. The company had a trading volume of 545,500 shares, compared to its average volume of 1,629,288. The company has a market cap of $125.66 billion, a P/E ratio of 32.74, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $226.09 and a 52 week high of $309.21. The business's 50-day moving average is $284.74 and its 200 day moving average is $262.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analysts' expectations 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 revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share 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. Investors of record on Friday, December 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio is 59.77%.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 32,604 shares of the company's stock, valued at $9,781,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $9,781,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David Kwon sold 846 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock valued at $27,691,708 over the last quarter. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Barclays increased their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Finally, TD Cowen increased their target price on 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and a consensus target price of $289.91.

About Automatic Data Processing

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.