Silver Oak Securities Incorporated Increases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Silver Oak Securities Incorporated boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 193.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,624 shares of the business services provider’s stock after buying an additional 1,071 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Automatic Data Processing were worth $443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Vicus Capital acquired a new stake in Automatic Data Processing during the first quarter worth $211,000. New Mexico Educational Retirement Board increased its stake in Automatic Data Processing by 13.5% during the first quarter. New Mexico Educational Retirement Board now owns 24,443 shares of the business services provider’s stock worth $5,562,000 after acquiring an additional 2,900 shares during the last quarter. Trilogy Capital Inc. acquired a new stake in Automatic Data Processing during the first quarter worth $279,000. LVW Advisors LLC increased its stake in Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after acquiring an additional 740 shares during the last quarter. Finally, Oak Asset Management LLC increased its stake in Automatic Data Processing by 3.4% during the first quarter. Oak Asset Management LLC now owns 2,745 shares of the business services provider’s stock worth $686,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.5 %

NASDAQ:ADP opened at $287.96 on Friday. The firm has a market cap of $117.86 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The stock has a fifty day moving average price of $279.40 and a 200 day moving average price of $258.39. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price objective 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 research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $277.64.

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.