Fidelity D & D Bancorp Inc. Has $1.05 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fidelity D & D Bancorp Inc. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 3,796 shares of the business services provider’s stock after buying an additional 52 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Automatic Data Processing were worth $1,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Plato Investment Management Ltd boosted its position in shares of Automatic Data Processing by 23.8% during the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after purchasing an additional 5,114 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing in the third quarter valued at about $209,000. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing in the third quarter worth about $470,000. Nomura Asset Management Co. Ltd. raised its position in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares during the period. Finally, Dash Acquisitions Inc. lifted its holdings in shares of Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.1 %

Shares of Automatic Data Processing stock traded down $0.15 on Friday, reaching $297.06. 44,475 shares of the company were exchanged, compared to its average volume of 1,637,782. The company has a market capitalization of $121.04 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.50 and a beta of 0.79. 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 one year low of $227.12 and a one year high of $309.63. The company has a 50-day moving average of $296.79 and a 200 day moving average of $271.23.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter last year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADP shares. TD Cowen increased their target price 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. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted 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 report on Tuesday, August 20th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $289.91.

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.