Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,878 shares of the business services provider’s stock after selling 55 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Automatic Data Processing were worth $687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schmidt P J Investment Management Inc. raised its stake in shares of Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after acquiring an additional 40 shares during the last quarter. Confluence Wealth Services Inc. lifted its position in shares of Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in shares of Automatic Data Processing by 0.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after purchasing an additional 42 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Automatic Data Processing by 0.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after buying an additional 43 shares during the period. Finally, Patron Partners LLC raised its position in shares of Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $265.36.

Insider Buying and Selling at Automatic Data Processing

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

Automatic Data Processing Price Performance

NASDAQ:ADP traded up $2.55 during midday trading on Friday, hitting $275.91. The company had a trading volume of 1,548,080 shares, compared to its average volume of 1,366,105. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $276.77. The stock’s fifty day moving average price is $253.29 and its 200-day moving average price is $248.98. The company has a market capitalization of $112.52 billion, a PE ratio of 30.79, a P/E/G ratio of 3.00 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid 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 is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.