1,652 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,652 shares of the business services provider's stock, valued at approximately $457,000.

Several other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $27,000. Hexagon Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 78.5% in the 3rd 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 period. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the second quarter worth approximately $40,000. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company's stock, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho boosted their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a research note on Tuesday, August 20th. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Barclays upped their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Finally, TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Two investment 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $289.91.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded down $1.86 during trading hours on Thursday, reaching $301.63. The stock had a trading volume of 1,238,347 shares, compared to its average volume of 1,629,975. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day simple moving average of $294.13 and a 200 day simple moving average of $269.30. The stock has a market cap of $122.90 billion, a P/E ratio of 32.39, a price-to-earnings-growth ratio of 3.53 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS 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. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a boost 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 is 59.77%.

About Automatic Data Processing

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.