Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 9.0% in the second quarter, HoldingsChannel.com reports. The fund owned 40,645 shares of the business services provider’s stock after selling 4,038 shares during the quarter. Private Advisor Group LLC’s holdings in Automatic Data Processing were worth $8,537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Mutual Advisors LLC raised its position in Automatic Data Processing by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 7,250 shares of the business services provider’s stock worth $1,788,000 after acquiring an additional 174 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $392,000. Unigestion Holding SA acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $1,356,000. Goldman Sachs Group Inc. raised its position in shares of Automatic Data Processing by 2.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,693,476 shares of the business services provider’s stock valued at $417,578,000 after buying an additional 46,011 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Automatic Data Processing by 2.2% in the fourth quarter. IHT Wealth Management LLC now owns 2,642 shares of the business services provider’s stock valued at $651,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wolfe Research cut their price objective on shares of Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Morgan Stanley upped their price target on shares of Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Cowen upped their price target on shares of Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Barclays upped their price target on shares of Automatic Data Processing to $280.00 in a research report on Tuesday, August 9th. Finally, Cowen upped their price target on shares of Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $236.85.

Insider Activity

In other news, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the transaction, the vice president now directly owns 4,238 shares in the company, valued at $892,692.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the sale, the vice president now directly owns 4,238 shares of the company’s stock, valued at $892,692.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 174 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total transaction of $41,184.06. Following the completion of the sale, the vice president now directly owns 3,157 shares in the company, valued at $747,230.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,349 shares of company stock worth $25,576,129. 0.34% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $230.47 on Friday. The company has a market capitalization of $95.76 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The firm has a fifty day simple moving average of $240.78 and a 200-day simple moving average of $225.72. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.93. Automatic Data Processing, Inc. has a twelve month low of $192.26 and a twelve month high of $261.59.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 1.81%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.34%.

Automatic Data Processing Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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