RDA Financial Network Buys Shares of 5,151 Automatic Data Processing, Inc. (NASDAQ:ADP)

RDA Financial Network acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,151 shares of the business services provider's stock, valued at approximately $1,508,000.

A number of other hedge funds have also modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter worth about $27,000. Dunhill Financial LLC boosted its position in Automatic Data Processing by 346.5% during 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 grew its stake 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 in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $0.05 on Friday, hitting $296.18. The stock had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. The stock has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 3.34 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. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The business's 50 day moving average is $298.07 and its two-hundred day moving average is $279.57.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,067 shares of the company's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company's stock, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last quarter. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Citigroup boosted 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 note on Wednesday, September 25th. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Saturday, January 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.