Clean Yield Group Acquires 1,451 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Clean Yield Group grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,602 shares of the business services provider’s stock after acquiring an additional 1,451 shares during the quarter. Automatic Data Processing accounts for about 1.8% of Clean Yield Group’s investment portfolio, making the stock its 16th largest holding. Clean Yield Group’s holdings in Automatic Data Processing were worth $5,701,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. BlueSpruce Investments LP bought a new position in shares of Automatic Data Processing during the first quarter worth about $365,757,000. Nordea Investment Management AB grew its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after acquiring an additional 589,831 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Automatic Data Processing by 238.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after purchasing an additional 552,096 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Automatic Data Processing by 242.4% in the second 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, Ameriprise Financial Inc. boosted its holdings in Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after purchasing an additional 435,093 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $282.14 on Tuesday. The company has a market capitalization of $115.48 billion, a price-to-earnings ratio of 31.49, a PEG 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, Inc. has a 52 week low of $205.53 and a 52 week high of $286.30. The company has a 50-day simple moving average of $270.94 and a 200 day simple moving average of $254.06.

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

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Automatic Data Processing

In related 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 $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP David Kwon sold 846 shares of the 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 completion of the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on ADP shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus lifted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup boosted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Bank of America increased their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $267.83.

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.