Summit Trail Advisors LLC Acquires 1,942 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Summit Trail Advisors LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 37.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,109 shares of the business services provider's stock after buying an additional 1,942 shares during the quarter. Summit Trail Advisors LLC's holdings in Automatic Data Processing were worth $1,977,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADP. Accredited Investors Inc. increased its holdings in Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock worth $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock valued at $3,305,780,000 after buying an additional 1,190,407 shares during the period. Mackenzie Financial Corp boosted its position in Automatic Data Processing by 242.4% during the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider's stock worth $153,749,000 after buying an additional 456,027 shares during the period. Ameriprise Financial Inc. grew its holdings in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock worth $964,989,000 after acquiring an additional 435,093 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Automatic Data Processing by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,296,344 shares of the business services provider's stock valued at $548,099,000 after acquiring an additional 269,986 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $305.15 on Monday. The firm has a market capitalization of $124.34 billion, a P/E ratio of 32.57, a P/E/G 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 stock's 50-day simple moving average is $289.55 and its two-hundred day simple moving average is $266.18. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37.

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

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.02%. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing's dividend payout ratio is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 20.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 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 value of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,504 shares of company stock valued at $20,298,056. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADP. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped 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 report on Tuesday, August 20th. Barclays lifted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $289.91.

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.

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