LVW Advisors LLC Sells 810 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

LVW Advisors LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,622 shares of the business services provider’s stock after selling 810 shares during the period. LVW Advisors LLC’s holdings in Automatic Data Processing were worth $449,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in shares of Automatic Data Processing by 14.2% during the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after acquiring an additional 264,466 shares during the period. SG Americas Securities LLC lifted its stake in shares of Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the period. Cornerstone Wealth Group LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $2,924,000. Finally, Toronto Dominion Bank grew its stake in Automatic Data Processing by 1.7% in the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after purchasing an additional 4,253 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Don Mcguire sold 3,179 shares of the firm’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 completion of the sale, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 0.5 %

ADP stock opened at $288.36 on Friday. The company has a market cap of $117.60 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 3.13 and a beta of 0.79. 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 business’s 50-day moving average is $273.55 and its two-hundred day moving average is $255.33. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $288.50.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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 firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 61.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADP. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. 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 report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Bank of America lifted their price target 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $267.83.

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.