Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Increased by Salomon & Ludwin LLC

Salomon & Ludwin LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264 shares of the business services provider’s stock after buying an additional 50 shares during the quarter. Salomon & Ludwin LLC’s holdings in Automatic Data Processing were worth $73,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. L. Roy Papp & Associates LLP grew its position in Automatic Data Processing by 0.5% in the third quarter. L. Roy Papp & Associates LLP now owns 9,602 shares of the business services provider’s stock worth $2,657,000 after buying an additional 45 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of Automatic Data Processing by 3.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,080 shares of the business services provider’s stock worth $1,682,000 after acquiring an additional 208 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Automatic Data Processing by 6.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 47,375 shares of the business services provider’s stock worth $13,110,000 after acquiring an additional 2,810 shares in the last quarter. Paradigm Strategies in Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth $206,000. Finally, Capital Advisors Ltd. LLC raised its position in shares of Automatic Data Processing by 3.7% during the third quarter. Capital Advisors Ltd. LLC now owns 1,806 shares of the business services provider’s stock worth $500,000 after purchasing an additional 64 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $286.44 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The stock’s 50-day moving average is $279.83 and its two-hundred day moving average is $258.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $117.24 billion, a P/E ratio of 31.97, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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 business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. Analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADP. Barclays lifted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Jefferies Financial Group lifted their target price 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. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $277.64.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.