Nicholas Hoffman & Company LLC. Sells 54 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Nicholas Hoffman & Company LLC. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,616 shares of the business services provider’s stock after selling 54 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Automatic Data Processing were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Journey Advisory Group LLC lifted its stake in Automatic Data Processing by 6.3% in the 2nd quarter. Journey Advisory Group LLC now owns 17,333 shares of the business services provider’s stock valued at $4,138,000 after purchasing an additional 1,033 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Automatic Data Processing by 4.1% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,363 shares of the business services provider’s stock valued at $325,000 after purchasing an additional 54 shares during the last quarter. TD Asset Management Inc lifted its stake in Automatic Data Processing by 6.3% in the 2nd quarter. TD Asset Management Inc now owns 852,275 shares of the business services provider’s stock valued at $203,430,000 after purchasing an additional 50,418 shares during the last quarter. Strategy Asset Managers LLC lifted its stake in Automatic Data Processing by 106.9% in the 2nd quarter. Strategy Asset Managers LLC now owns 4,900 shares of the business services provider’s stock valued at $1,077,000 after purchasing an additional 2,532 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Automatic Data Processing by 35.4% in the 2nd quarter. Larson Financial Group LLC now owns 1,670 shares of the business services provider’s stock valued at $399,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.1 %

Shares of Automatic Data Processing stock traded down $3.16 during trading hours on Thursday, reaching $272.06. The company’s stock had a trading volume of 152,756 shares, compared to its average volume of 1,633,425. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $278.24. The company has a market capitalization of $111.35 billion, a P/E ratio of 30.72, a P/E/G ratio of 3.00 and a beta of 0.78. The stock’s fifty day simple moving average is $255.11 and its two-hundred day simple moving average is $249.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

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 for the quarter, topping the consensus estimate 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 business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADP. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $265.36.

Insider Buying and Selling

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,614 shares of company stock worth $13,519,460. 0.26% of the stock is owned by insiders.

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.