Pathstone Holdings LLC Purchases 316 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pathstone Holdings LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 86,808 shares of the business services provider’s stock after buying an additional 316 shares during the period. Pathstone Holdings LLC’s holdings in Automatic Data Processing were worth $24,051,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Natixis lifted its holdings in shares of Automatic Data Processing by 232.5% in the first quarter. Natixis now owns 39,723 shares of the business services provider’s stock worth $9,920,000 after buying an additional 27,778 shares in the last quarter. Crewe Advisors LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at $33,000. Delap Wealth Advisory LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth $204,000. CreativeOne Wealth LLC boosted its holdings in shares of Automatic Data Processing by 2.7% during the 1st quarter. CreativeOne Wealth LLC now owns 5,340 shares of the business services provider’s stock valued at $1,334,000 after purchasing an additional 141 shares during the last quarter. Finally, Freestone Capital Holdings LLC grew its position in shares of Automatic Data Processing by 5.0% during the first quarter. Freestone Capital Holdings LLC now owns 16,538 shares of the business services provider’s stock valued at $4,130,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $297.54 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. The company has a market capitalization of $121.24 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 3.46 and a beta of 0.79. The firm’s 50-day moving average is $288.04 and its 200 day moving average is $264.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ADP shares. Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Mizuho raised their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Bank of America upped their price target on shares of 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, Barclays increased their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $289.91.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Kwon sold 846 shares of the business’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 completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by insiders.

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.