Agate Pass Investment Management LLC Has $3.25 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Agate Pass Investment Management LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,086 shares of the business services provider’s stock after selling 445 shares during the quarter. Automatic Data Processing makes up approximately 1.5% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Agate Pass Investment Management LLC’s holdings in Automatic Data Processing were worth $3,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter worth $27,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 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 valued at $32,000 after purchasing an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the third quarter valued at $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ADP. Jefferies Financial Group boosted 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 lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Citigroup increased their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the transaction, the vice president now directly owns 5,958 shares in the company, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,062 shares of company stock valued at $12,299,550 in the last three months. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.9 %

Shares of NASDAQ ADP traded up $2.46 during midday trading on Monday, reaching $289.31. The company had a trading volume of 615,714 shares, compared to its average volume of 1,349,068. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average price is $298.46 and its 200-day moving average price is $278.61. The stock has a market cap of $117.88 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 EPS. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.13%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.