Kathmere Capital Management LLC Buys 1,205 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Kathmere Capital Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,584 shares of the business services provider’s stock after purchasing an additional 1,205 shares during the quarter. Kathmere Capital Management LLC’s holdings in Automatic Data Processing were worth $1,094,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Automatic Data Processing by 4.3% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,895 shares of the business services provider’s stock valued at $452,000 after buying an additional 78 shares during the period. Security National Bank of SO Dak grew its stake in Automatic Data Processing by 0.7% during the second quarter. Security National Bank of SO Dak now owns 10,638 shares of the business services provider’s stock valued at $2,539,000 after acquiring an additional 70 shares in the last quarter. Legal & General Group Plc increased its holdings in Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares during the period. Mackenzie Financial Corp lifted its stake in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares in the last quarter. Finally, MBB Public Markets I LLC boosted its holdings in Automatic Data Processing by 2,844.7% in the 2nd quarter. MBB Public Markets I LLC now owns 29,005 shares of the business services provider’s stock valued at $6,923,000 after purchasing an additional 28,020 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent analyst reports. Barclays increased their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price 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 lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $272.88 on Friday. The firm has a fifty day simple moving average of $267.65 and a two-hundred day simple moving average of $252.60. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $281.54. The company has a market capitalization of $111.69 billion, a PE ratio of 30.46, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results 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 in the previous year, the company posted $1.89 EPS. Automatic Data Processing’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing 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 sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The sale was disclosed in a 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 that occurred 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 transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. 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 over the last three months. 0.26% of the stock is owned by company insiders.

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.