First Personal Financial Services Decreases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

First Personal Financial Services lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135 shares of the business services provider’s stock after selling 49 shares during the quarter. First Personal Financial Services’ holdings in Automatic Data Processing were worth $32,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. Keener Financial Planning LLC increased its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADP. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen decreased their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Trading Up 0.9 %

NASDAQ:ADP traded up $2.55 during trading hours on Friday, reaching $275.91. 1,548,069 shares of the company were exchanged, compared to its average volume of 1,644,018. The firm has a market cap of $112.93 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.72 and a beta of 0.78. The stock has a 50 day simple moving average of $252.73 and a 200 day simple moving average of $248.80. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $276.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing 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.