Community Financial Services Group LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Community Financial Services Group LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,380 shares of the business services provider’s stock after buying an additional 155 shares during the period. Community Financial Services Group LLC’s holdings in Automatic Data Processing were worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accredited Investors Inc. raised its stake in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares during the period. Finally, State Street Corp lifted its holdings in Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ADP shares. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $293.55.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $305.78 on Wednesday. The firm has a 50 day moving average of $297.21 and a two-hundred day moving average of $287.34. The stock has a market capitalization of $124.59 billion, a PE ratio of 31.89, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.