Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Trimmed by Raub Brock Capital Management LP

Raub Brock Capital Management LP lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,692 shares of the business services provider’s stock after selling 955 shares during the period. Automatic Data Processing comprises 3.5% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 20th largest holding. Raub Brock Capital Management LP’s holdings in Automatic Data Processing were worth $16,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ADP. Gryphon Financial Partners LLC lifted its stake in Automatic Data Processing by 105.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock worth $467,000 after acquiring an additional 1,034 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $814,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Automatic Data Processing by 12.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 8,308 shares of the business services provider’s stock worth $1,936,000 after purchasing an additional 918 shares during the period. Dana Investment Advisors Inc. grew its position in Automatic Data Processing by 25.7% during the fourth quarter. Dana Investment Advisors Inc. now owns 1,095 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 224 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in Automatic Data Processing by 6.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,068 shares of the business services provider’s stock valued at $249,000 after buying an additional 66 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $0.61 during midday trading on Friday, hitting $269.56. The company’s stock had a trading volume of 2,814,514 shares, compared to its average volume of 1,648,719. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day simple moving average is $256.39 and its 200 day simple moving average is $249.71. The stock has a market capitalization of $110.33 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 3.00 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $278.24.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.89 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business 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 annualized dividend and a yield of 2.08%. 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 at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the business’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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at approximately $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Don Mcguire sold 3,179 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 value of $872,254.02. Following the sale, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The disclosure for this sale can be found here. Insiders sold a total of 49,614 shares of company stock valued at $13,519,460 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADP shares. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Barclays upped their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Bank of America boosted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $265.36.

About Automatic Data Processing

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.