Orca Investment Management LLC Purchases 406 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Orca Investment Management LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,317 shares of the business services provider’s stock after purchasing an additional 406 shares during the period. Orca Investment Management LLC’s holdings in Automatic Data Processing were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing during the second quarter worth approximately $27,000. Keener Financial Planning LLC increased its stake in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the period. Hexagon Capital Partners LLC increased its stake in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the period. Crewe Advisors LLC bought a new position in Automatic Data Processing during the 1st quarter worth $33,000. Finally, Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the 1st quarter worth $36,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.5 %

Shares of ADP opened at $288.36 on Monday. The company has a market capitalization of $118.02 billion, a PE ratio of 32.18, a PEG ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $288.50. The stock’s 50-day moving average price is $273.55 and its two-hundred day moving average price is $255.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm 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 business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Analyst Ratings Changes

A number of equities analysts have commented on ADP shares. Stifel Nicolaus raised their price objective 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. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Bank of America lifted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, 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 note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $267.83.

Insider Activity

In other news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Company 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.