First National Bank of South Miami Sells 66 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

First National Bank of South Miami reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the 2nd quarter, Holdings Channel reports. The firm owned 4,867 shares of the business services provider’s stock after selling 66 shares during the quarter. Automatic Data Processing accounts for 0.9% of First National Bank of South Miami’s investment portfolio, making the stock its 29th largest holding. First National Bank of South Miami’s holdings in Automatic Data Processing were worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Morgan Stanley lifted its stake in shares of Automatic Data Processing by 7.8% in the fourth quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock worth $2,629,852,000 after acquiring an additional 794,328 shares during the period. Geode Capital Management LLC raised its holdings in Automatic Data Processing by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 9,045,455 shares of the business services provider’s stock worth $2,157,923,000 after purchasing an additional 123,725 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Automatic Data Processing by 10.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,586,824 shares of the business services provider’s stock worth $2,051,049,000 after purchasing an additional 822,790 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 94,265.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after purchasing an additional 6,763,553 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Automatic Data Processing by 0.4% during the first quarter. Wellington Management Group LLP now owns 5,182,839 shares of the business services provider’s stock worth $1,153,855,000 after buying an additional 20,771 shares during the period. 79.37% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.8 %

NASDAQ:ADP opened at $247.28 on Tuesday. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $274.92. The company has a market cap of $101.88 billion, a PE ratio of 30.16, a PEG ratio of 2.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $246.38 and a 200-day moving average of $226.89.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.39 billion. Automatic Data Processing had a return on equity of 107.15% and a net margin of 18.94%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio is 60.98%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADP. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a report on Tuesday, August 22nd. Barclays lifted their target price on Automatic Data Processing from $275.00 to $285.00 in a report on Friday, July 28th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $240.00 to $260.00 in a research note on Wednesday, July 26th. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, Robert W. Baird lifted their price target on shares of Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $249.57.

Insider Transactions at Automatic Data Processing

In related news, insider Carlos A. Rodriguez sold 52,254 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $247.93, for a total transaction of $12,955,334.22. Following the transaction, the insider now directly owns 44,859 shares in the company, valued at $11,121,891.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Carlos A. Rodriguez sold 52,254 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $247.93, for a total transaction of $12,955,334.22. Following the completion of the sale, the insider now directly owns 44,859 shares of the company’s stock, valued at $11,121,891.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carlos A. Rodriguez sold 58,864 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total value of $14,740,722.88. Following the completion of the transaction, the insider now directly owns 44,859 shares in the company, valued at approximately $11,233,590.78. The disclosure for this sale can be found here. Insiders sold a total of 170,089 shares of company stock worth $42,719,064 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company Profile

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.