Kelly Financial Services LLC Makes New $5.44 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kelly Financial Services LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 18,570 shares of the business services provider's stock, valued at approximately $5,436,000. Automatic Data Processing accounts for 1.6% of Kelly Financial Services LLC's investment portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its position in shares of Automatic Data Processing by 1.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 8,805 shares of the business services provider's stock valued at $2,577,000 after buying an additional 103 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its stake in Automatic Data Processing by 11.1% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 868 shares of the business services provider's stock valued at $255,000 after acquiring an additional 87 shares during the period. Riversedge Advisors LLC increased its holdings in Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock worth $268,000 after acquiring an additional 37 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its position in Automatic Data Processing by 39.4% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,539 shares of the business services provider's stock worth $449,000 after acquiring an additional 435 shares during the period. Finally, HB Wealth Management LLC grew its position in shares of Automatic Data Processing by 6.2% in the fourth quarter. HB Wealth Management LLC now owns 43,571 shares of the business services provider's stock valued at $12,755,000 after purchasing an additional 2,530 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.0 %

Automatic Data Processing stock traded down $0.05 during midday trading on Friday, hitting $296.18. 2,405,360 shares of the stock were exchanged, compared to its average volume of 1,454,451. 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 stock's 50-day simple moving average is $297.90 and its 200 day simple moving average is $280.29. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The stock has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the firm earned $2.08 EPS. The business's revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction 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 in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $289.91.

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.