Automatic Data Processing, Inc. $ADP Position Lessened by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,863 shares of the business services provider’s stock after selling 27,682 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Automatic Data Processing were worth $29,439,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Automatic Data Processing during the second quarter worth approximately $13,283,000. Royal Capital Wealth Management LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth $1,226,000. Canada Pension Plan Investment Board purchased a new stake in shares of Automatic Data Processing during the second quarter worth $152,706,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth $1,044,000. Finally, Fulton Bank N.A. raised its position in shares of Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after buying an additional 4,711 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer owned 80,624 shares of the company’s stock, valued at $22,648,087.84. This trade represents a 26.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Jonathan S. Lehberger sold 770 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $300.35, for a total transaction of $231,269.50. Following the sale, the vice president owned 4,961 shares of the company’s stock, valued at approximately $1,490,036.35. This represents a 13.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 50,207 shares of company stock worth $14,522,300. 0.15% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 0.7%

Shares of NASDAQ ADP opened at $309.93 on Friday. The company has a 50 day simple moving average of $281.38 and a 200-day simple moving average of $243.13. The company has a market capitalization of $122.35 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.03. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $311.89.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the business earned $2.49 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, December 11th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.70. Automatic Data Processing’s dividend payout ratio is 60.28%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $285.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, October 29th. Morgan Stanley raised their target price on shares of Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. UBS Group boosted their target price on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $285.00.

Automatic Data Processing Profile

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.