Dash Acquisitions Inc. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,329 shares of the business services provider's stock after purchasing an additional 2,781 shares during the quarter. Automatic Data Processing comprises approximately 3.6% of Dash Acquisitions Inc.'s investment portfolio, making the stock its 13th biggest holding. Dash Acquisitions Inc.'s holdings in Automatic Data Processing were worth $15,069,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC lifted its stake in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider's stock worth $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing in the 1st quarter worth $36,000. 80.03% of the stock is owned by institutional investors and hedge funds.
In other news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 92,807 shares of the company's stock, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 in the last ninety days. Company insiders own 0.21% of the company's stock.
Shares of ADP stock opened at $288.18 on Friday. 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 firm has a market cap of $117.53 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.21 and a beta of 0.79. The firm's 50 day moving average price is $281.57 and its 200-day moving average price is $259.90. Automatic Data Processing, Inc. has a one year low of $211.52 and a one year high of $294.18.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.13. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.77 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The firm's revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing's dividend payout ratio (DPR) is currently 59.77%.
Several research firms have weighed in on ADP. Bank of America boosted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Two investment 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. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $285.09.
Check Out Our Latest Analysis on ADP
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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