Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,367 shares of the business services provider’s stock after acquiring an additional 1,352 shares during the period. Automatic Data Processing makes up about 2.5% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 13th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in Automatic Data Processing were worth $22,794,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ADP. TD Asset Management Inc lifted its stake in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares in the last quarter. SG Americas Securities LLC lifted its stake in Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new position in Automatic Data Processing in the 1st quarter worth approximately $2,924,000. Finally, LVW Advisors LLC lifted its stake in Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after purchasing an additional 740 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.3 %

Automatic Data Processing stock traded down $1.00 during trading on Thursday, hitting $286.77. The company had a trading volume of 142,533 shares, compared to its average volume of 1,632,907. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $288.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company’s 50 day simple moving average is $272.54 and its 200-day simple moving average is $254.80. The stock has a market cap of $117.37 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $267.83.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The shares were 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 in the company, 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 legal filing with the SEC, which is available at the SEC website. In related news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

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.