Monte Financial Group LLC Purchases 243 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Monte Financial Group LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,877 shares of the business services provider’s stock after acquiring an additional 243 shares during the period. Automatic Data Processing makes up approximately 2.1% of Monte Financial Group LLC’s holdings, making the stock its 28th biggest holding. Monte Financial Group LLC’s holdings in Automatic Data Processing were worth $4,940,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC increased its stake 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 worth $29,000 after buying an additional 149 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% during the third 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. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the 3rd quarter valued at $35,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ:ADP opened at $297.10 on Friday. The business has a fifty day moving average of $297.13 and a two-hundred day moving average of $282.10. 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 stock has a market cap of $121.06 billion, a P/E ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADP shares. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday, January 19th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now owns 32,604 shares in the company, valued at $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 available at the SEC website. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock worth $12,604,872 over the last ninety days. Company insiders own 0.21% of the company’s stock.

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.