Eads & Heald Wealth Management Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Eads & Heald Wealth Management lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,386 shares of the business services provider’s stock after selling 521 shares during the quarter. Eads & Heald Wealth Management’s holdings in Automatic Data Processing were worth $2,321,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the second quarter valued at $27,000. Keener Financial Planning LLC increased its position in shares of 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. Hexagon Capital Partners LLC raised its holdings in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the 1st quarter worth approximately $36,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Down 0.4 %

NASDAQ ADP opened at $288.18 on Friday. The stock has a market cap of $117.53 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $211.52 and a fifty-two week high of $294.18. The stock has a 50 day simple moving average of $281.57 and a two-hundred day simple moving average of $259.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.98 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ADP shares. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $285.09.

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.