Veracity Capital LLC Purchases 144 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Veracity Capital LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 881 shares of the business services provider’s stock after buying an additional 144 shares during the period. Veracity Capital LLC’s holdings in Automatic Data Processing were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. Geode Capital Management LLC lifted its position in Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. Legal & General Group Plc grew its holdings in Automatic Data Processing by 4.1% during the second 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after buying an additional 41,709 shares in the last quarter. Finally, Accredited Investors Inc. lifted its position in shares of Automatic Data Processing by 4,431.5% during 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 buying an additional 2,264,202 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho increased their target price 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. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday, January 19th. Royal Bank of Canada lifted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. TD Cowen increased their price target 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. Finally, Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $297.10 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The business has a 50 day simple moving average of $297.14 and a two-hundred day simple moving average of $281.66. The stock has a market capitalization of $121.06 billion, a PE ratio of 31.71, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

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.