Next Capital Management LLC Has $344,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Next Capital Management LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,442 shares of the business services provider’s stock after acquiring an additional 72 shares during the quarter. Next Capital Management LLC’s holdings in Automatic Data Processing were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Bank of Nova Scotia boosted its stake in Automatic Data Processing by 21.6% during the fourth quarter. Bank of Nova Scotia now owns 66,515 shares of the business services provider’s stock worth $15,495,000 after buying an additional 11,799 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Automatic Data Processing by 47.2% in the 4th quarter. CWA Asset Management Group LLC now owns 3,319 shares of the business services provider’s stock valued at $773,000 after purchasing an additional 1,064 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of Automatic Data Processing by 20.2% in the 4th quarter. Rafferty Asset Management LLC now owns 80,709 shares of the business services provider’s stock worth $18,803,000 after buying an additional 13,577 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in Automatic Data Processing by 29.8% in the 4th quarter. Belpointe Asset Management LLC now owns 4,248 shares of the business services provider’s stock valued at $990,000 after buying an additional 975 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $1,497,000. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ADP. Barclays boosted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $267.83.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $276.73 on Tuesday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The stock has a 50 day moving average of $268.23 and a 200-day moving average of $252.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $113.26 billion, a P/E ratio of 30.89, a P/E/G ratio of 3.02 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Insiders own 0.26% 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.