Planning Capital Management Corp Has $1.05 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Planning Capital Management Corp lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 96.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,788 shares of the business services provider’s stock after acquiring an additional 1,858 shares during the quarter. Planning Capital Management Corp’s holdings in Automatic Data Processing were worth $1,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation N.A. raised its position in shares of Automatic Data Processing by 2.9% during the third quarter. Zions Bancorporation N.A. now owns 1,996 shares of the business services provider’s stock worth $552,000 after acquiring an additional 57 shares during the last quarter. ROI Financial Advisors LLC raised its position in shares of Automatic Data Processing by 12.7% during the third quarter. ROI Financial Advisors LLC now owns 5,726 shares of the business services provider’s stock worth $1,585,000 after acquiring an additional 645 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Automatic Data Processing by 1.4% in the third quarter. Plato Investment Management Ltd now owns 26,995 shares of the business services provider’s stock valued at $7,463,000 after purchasing an additional 385 shares during the last quarter. Cable Hill Partners LLC increased its holdings in Automatic Data Processing by 11.8% in the third quarter. Cable Hill Partners LLC now owns 1,233 shares of the business services provider’s stock valued at $343,000 after purchasing an additional 130 shares during the last quarter. Finally, Bell Bank bought a new stake in Automatic Data Processing in the third quarter valued at about $226,000. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock valued at $27,691,708 over the last three months. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADP shares. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Barclays upped their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Down 0.1 %

ADP stock opened at $307.50 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $125.29 billion, a P/E ratio of 32.82, a P/E/G ratio of 3.58 and a beta of 0.79. The business has a 50-day moving average of $286.03 and a 200-day moving average of $263.23. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

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.