Harbour Investments Inc. Has $482,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Harbour Investments Inc. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,742 shares of the business services provider’s stock after purchasing an additional 36 shares during the quarter. Harbour Investments Inc.’s holdings in Automatic Data Processing were worth $482,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of 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 purchasing an additional 435,093 shares during the period. Capital Research Global Investors lifted its stake in Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after acquiring an additional 81,869 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Automatic Data Processing by 0.4% in the second quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock worth $610,182,000 after purchasing an additional 9,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Automatic Data Processing by 13.3% in the second 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 in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ADP shares. Bank of America upped 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. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Finally, Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insiders Place Their Bets

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly 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 SEC, which is available through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $297.64 on Friday. The business has a 50-day simple moving average of $287.23 and a two-hundred day simple moving average of $263.87. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.37. The stock has a market cap of $121.28 billion, a PE ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79. 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 (NASDAQ:ADP) last issued its quarterly earnings results 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. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. Analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

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.