Point72 Hong Kong Ltd Purchases 13,303 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Point72 Hong Kong Ltd boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2,056.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,950 shares of the business services provider’s stock after buying an additional 13,303 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Automatic Data Processing were worth $3,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $27,000. Keener Financial Planning LLC increased its stake in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing in the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $36,000. Finally, New Millennium Group LLC bought a new position in shares of Automatic Data Processing in the second quarter worth approximately $40,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America boosted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $267.83.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated 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 of the company’s stock, valued at $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $275.25 on Thursday. The company has a 50 day simple moving average of $266.07 and a two-hundred day simple moving average of $252.09. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The company has a market capitalization of $112.26 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

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.