Noesis Capital Mangement Corp Has $383,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Noesis Capital Mangement Corp boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,384 shares of the business services provider’s stock after buying an additional 464 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Automatic Data Processing were worth $383,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares in the last quarter. Legal & General Group Plc raised its position in Automatic Data Processing by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after purchasing an additional 139,561 shares during the last quarter. Ninety One UK Ltd raised its position in Automatic Data Processing by 0.4% in the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after purchasing an additional 9,464 shares during the last quarter. Accredited Investors Inc. raised its position in Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Automatic Data Processing by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,296,344 shares of the business services provider’s stock valued at $548,099,000 after purchasing an additional 269,986 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,504 shares of company stock valued at $20,298,056 over the last three months. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.3 %

ADP stock opened at $306.92 on Thursday. The company has a market cap of $125.06 billion, a P/E ratio of 32.76, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.63. 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 business has a fifty day moving average of $291.26 and a 200-day moving average of $267.31.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.77 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s payout ratio is 59.77%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADP shares. Mizuho lifted 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. JPMorgan Chase & Co. lifted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. UBS Group lifted their price objective 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. Royal Bank of Canada lifted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $289.91.

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.