DRW Securities LLC Makes New $951,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

DRW Securities LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,437 shares of the business services provider's stock, valued at approximately $951,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd lifted its stake in shares of Automatic Data Processing by 51.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 18,925 shares of the business services provider's stock worth $5,236,000 after acquiring an additional 6,399 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Automatic Data Processing by 10.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 5,728 shares of the business services provider's stock worth $1,585,000 after purchasing an additional 540 shares during the period. Douglass Winthrop Advisors LLC raised its stake in shares of Automatic Data Processing by 1.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 24,489 shares of the business services provider's stock worth $6,777,000 after buying an additional 360 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Automatic Data Processing by 12.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 82,736 shares of the business services provider's stock valued at $22,896,000 after buying an additional 8,846 shares during the period. Finally, Garner Asset Management Corp boosted its stake in shares of Automatic Data Processing by 4.1% in the third quarter. Garner Asset Management Corp now owns 4,125 shares of the business services provider's stock valued at $1,142,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 20th. Stifel Nicolaus lifted their price target 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. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $289.91.

Automatic Data Processing Trading Up 1.1 %

Shares of NASDAQ:ADP traded up $3.31 during trading on Tuesday, reaching $307.97. The stock had a trading volume of 1,039,887 shares, compared to its average volume of 1,636,711. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $125.49 billion, a P/E ratio of 32.87, a PEG ratio of 3.55 and a beta of 0.79. The business has a fifty day moving average price of $290.64 and a 200-day moving average price of $267.03. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37.

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 for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 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. Stockholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio is currently 59.77%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 17.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,504 shares of company stock worth $20,298,056 in the last three months. Company 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.