Fisher Asset Management LLC Has $530,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fisher Asset Management LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 32.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,915 shares of the business services provider’s stock after selling 908 shares during the quarter. Fisher Asset Management LLC’s holdings in Automatic Data Processing were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its position in Automatic Data Processing by 78.5% during the third 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. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter worth $35,000. MFA Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $40,000. Finally, New Millennium Group LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at $40,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ADP shares. TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Barclays lifted their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Citigroup boosted their target price on shares of 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, Jefferies Financial Group increased their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Trading Up 0.0 %

NASDAQ ADP opened at $306.93 on Friday. The firm has a market capitalization of $125.06 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 3.57 and a beta of 0.79. The business’s 50-day moving average price is $292.45 and its two-hundred day moving average price is $268.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 dividend yield of 2.01%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s payout ratio is currently 65.74%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. This represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,504 shares of company stock worth $20,298,056 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

About Automatic Data Processing

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.