STF Management LP Sells 301 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

STF Management LP trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,534 shares of the business services provider’s stock after selling 301 shares during the period. STF Management LP’s holdings in Automatic Data Processing were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ADP. Keener Financial Planning LLC boosted its stake 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 purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the first quarter worth $36,000. Pineridge Advisors LLC bought a new stake in Automatic Data Processing during the fourth quarter worth $39,000. Finally, MFA Wealth Advisors LLC bought a new position in Automatic Data Processing during the 2nd quarter valued at $40,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADP. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Barclays raised their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $265.36.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Don Mcguire sold 3,179 shares of the 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 sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated 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 sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the firm’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 $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $277.51 on Monday. The company’s 50 day moving average is $260.52 and its 200-day moving average is $250.53. The firm has a market cap of $113.17 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $279.58. 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 posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio is currently 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.