Adviser Investments LLC Sells 538 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Adviser Investments LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 30.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,232 shares of the business services provider’s stock after selling 538 shares during the quarter. Adviser Investments LLC’s holdings in Automatic Data Processing were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ADP. Norges Bank acquired a new stake in Automatic Data Processing during the fourth quarter worth $566,438,000. BlackRock Inc. boosted its stake in Automatic Data Processing by 5.1% during the first quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider’s stock worth $7,653,871,000 after buying an additional 1,642,852 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Automatic Data Processing by 23,114.1% during the first quarter. Aaron Wealth Advisors LLC now owns 1,481,057 shares of the business services provider’s stock worth $6,509,000 after buying an additional 1,474,677 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Automatic Data Processing by 1,386.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider’s stock worth $377,647,000 after buying an additional 1,428,484 shares in the last quarter. Finally, Capital World Investors boosted its stake in Automatic Data Processing by 16.9% during the first quarter. Capital World Investors now owns 5,393,160 shares of the business services provider’s stock worth $1,227,160,000 after buying an additional 779,457 shares in the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Automatic Data Processing Trading Up 0.0 %

NASDAQ:ADP opened at $230.47 on Friday. The company has a market cap of $95.76 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The company has a quick ratio of 0.99, a current 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. The business has a 50 day moving average price of $240.78 and a two-hundred day moving average price of $225.72.

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

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently commented on ADP. Barclays boosted their target price on shares of Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Wolfe Research reduced their target price on shares of Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Cowen boosted their target price on shares of Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday. Cowen upped their price target on shares of Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Finally, 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. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $236.85.

Insider Activity

In related news, CEO Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the sale, the chief executive officer now owns 44,426 shares in the company, valued at approximately $10,515,189.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total transaction of $119,432.88. Following the transaction, the vice president now owns 4,238 shares in the company, valued at approximately $892,692.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the transaction, the chief executive officer now owns 44,426 shares in the company, valued at approximately $10,515,189.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,349 shares of company stock valued at $25,576,129. 0.34% of the stock is owned by insiders.

Automatic Data Processing Company Profile

(Get Rating)

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

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

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