Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 446,031 shares of the business services provider’s stock after selling 2,046 shares during the period. Franklin Resources Inc.’s holdings in Automatic Data Processing were worth $93,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MCF Advisors LLC acquired a new stake in Automatic Data Processing in the first quarter valued at $422,000. Waldron Private Wealth LLC grew its holdings in Automatic Data Processing by 3.8% in the first quarter. Waldron Private Wealth LLC now owns 2,510 shares of the business services provider’s stock valued at $573,000 after purchasing an additional 93 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Automatic Data Processing by 0.7% in the first quarter. Commonwealth Equity Services LLC now owns 190,204 shares of the business services provider’s stock valued at $43,279,000 after purchasing an additional 1,262 shares during the last quarter. Prospera Financial Services Inc grew its holdings in Automatic Data Processing by 8.3% in the first quarter. Prospera Financial Services Inc now owns 17,779 shares of the business services provider’s stock valued at $4,048,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in Automatic Data Processing by 2.3% in the first quarter. Advisor Group Holdings Inc. now owns 145,323 shares of the business services provider’s stock valued at $28,691,000 after purchasing an additional 3,198 shares during the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $262.58 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.97 and a current ratio of 0.97. Automatic Data Processing, Inc. has a 1 year low of $192.26 and a 1 year high of $264.00. The firm has a market cap of $108.93 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82. The stock has a 50-day simple moving average of $237.38 and a 200-day simple moving average of $230.36.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The business services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Automatic Data Processing had a return on equity of 80.50% and a net margin of 17.93%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the firm earned $1.65 EPS. Automatic Data Processing’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Automatic Data Processing, Inc. will post 8.13 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, December 8th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.04. Automatic Data Processing’s dividend payout ratio (DPR) is 57.54%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 174 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was 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 owns 3,157 shares in the company, valued at approximately $747,230.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP Christopher D’ambrosio sold 174 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total transaction of $41,184.06. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $747,230.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Laura G. Brown sold 252 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $228.35, for a total value of $57,544.20. Following the transaction, the vice president now directly owns 6,016 shares in the company, valued at approximately $1,373,753.60. The disclosure for this sale can be found here. Insiders sold a total of 97,091 shares of company stock worth $23,026,905 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ADP. Mizuho upped their target price on Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a report on Monday, August 1st. Morgan Stanley increased their target price on Automatic Data Processing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 27th. Cowen upped their price target on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday, September 20th. Cowen upped their price target on Automatic Data Processing to $237.00 in a research note on Thursday, October 27th. Finally, Robert W. Baird upped their price target on Automatic Data Processing to $251.00 in a research note on Tuesday, November 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $240.55.

Automatic Data Processing Company 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.

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

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