Optivise Advisory Services LLC Invests $444,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Optivise Advisory Services LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,604 shares of the business services provider’s stock, valued at approximately $444,000.

Other large investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $27,000. Hexagon Capital Partners LLC boosted its position in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $35,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the 1st quarter worth approximately $36,000. Finally, MFA Wealth Advisors LLC bought a new stake in Automatic Data Processing during the 2nd quarter worth approximately $40,000. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target 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. Citigroup increased their price target on shares of 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 increased 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. TD Cowen boosted their price objective 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. Finally, Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,946 shares of company stock valued at $27,462,781 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Up 0.2 %

Automatic Data Processing stock opened at $305.15 on Friday. The company has a 50 day moving average of $289.55 and a 200-day moving average of $265.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37. The stock has a market capitalization of $124.34 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 3.54 and a beta of 0.79.

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

Automatic Data Processing Increases Dividend

The business also recently declared 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 represents a $6.16 dividend on an annualized basis and a yield of 2.02%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

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.