Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,153 shares of the business services provider’s stock after acquiring an additional 859 shares during the period. Automatic Data Processing accounts for about 1.1% of Culbertson A N & Co. Inc.’s investment portfolio, making the stock its 29th largest position. Culbertson A N & Co. Inc.’s holdings in Automatic Data Processing were worth $6,961,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing in the second quarter valued at $27,000. Keener Financial Planning LLC raised its stake in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Automatic Data Processing by 78.5% in 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. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth about $36,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group upped their price objective on shares of 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $290.70 on Thursday. The firm has a fifty day moving average of $275.45 and a 200-day moving average of $256.27. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $118.98 billion, a P/E ratio of 32.44, a PEG ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents 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 this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

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.