Geode Capital Management LLC Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Geode Capital Management LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,517,642 shares of the business services provider's stock after buying an additional 286,080 shares during the period. Geode Capital Management LLC owned about 2.58% of Automatic Data Processing worth $2,906,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $26,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at $27,000. Dunhill Financial LLC boosted its stake in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of 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 worth $32,000 after acquiring an additional 51 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the third quarter valued at about $35,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada upped their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm's stock in a transaction dated 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 transaction, the vice president now owns 32,604 shares of the company's stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 1.6 %

ADP traded up $4.67 on Tuesday, hitting $302.23. The company had a trading volume of 1,609,641 shares, compared to its average volume of 1,644,983. The company has a market cap of $123.15 billion, a PE ratio of 32.26, a PEG ratio of 3.54 and a beta of 0.79. 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 business's fifty day simple moving average is $295.72 and its 200 day simple moving average is $270.45. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the business earned $2.08 EPS. The business's revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current 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 issued a dividend of $1.54 per share. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.04%. Automatic Data Processing's dividend payout ratio (DPR) is presently 59.77%.

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.