Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 55.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,336 shares of the business services provider's stock after acquiring an additional 3,708 shares during the period. Carnegie Investment Counsel's holdings in Automatic Data Processing were worth $3,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing in the third quarter worth $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the second quarter valued at $27,000. Dunhill Financial LLC boosted its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings 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 last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing in the third quarter valued at $35,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.05 during trading hours on Friday, hitting $296.18. 2,405,360 shares of the company's stock traded hands, compared to its average volume of 1,454,451. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The company has a market capitalization of $120.68 billion, a PE ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. 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 firm's 50-day moving average is $297.90 and its 200-day moving average is $279.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $4.77 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Automatic Data Processing's revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing's dividend payout ratio is presently 65.74%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADP shares. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. 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 research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 31st. Finally, UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $289.91.

Insider Activity at Automatic Data Processing

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 value of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares of the company's stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company's stock.

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.