Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Trimmed by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the third quarter, HoldingsChannel reports. The fund owned 7,644 shares of the business services provider’s stock after selling 150 shares during the period. Capital Investment Services of America Inc.’s holdings in Automatic Data Processing were worth $2,115,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Whittier Trust Co. lifted its position in Automatic Data Processing by 1.6% in the first quarter. Whittier Trust Co. now owns 26,102 shares of the business services provider’s stock worth $6,519,000 after purchasing an additional 399 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Automatic Data Processing by 0.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 12,954 shares of the business services provider’s stock valued at $3,235,000 after buying an additional 85 shares during the period. Central Pacific Bank Trust Division bought a new position in Automatic Data Processing during the first quarter valued at about $241,000. Proficio Capital Partners LLC grew its holdings in Automatic Data Processing by 6.6% during the first quarter. Proficio Capital Partners LLC now owns 3,681 shares of the business services provider’s stock worth $919,000 after acquiring an additional 227 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Automatic Data Processing by 47.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,356 shares of the business services provider’s stock worth $4,584,000 after acquiring an additional 5,911 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the 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 transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.9 %

NASDAQ:ADP traded up $2.48 on Monday, hitting $290.66. 305,903 shares of the company’s stock traded hands, compared to its average volume of 1,630,922. The company has a market cap of $118.54 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $218.63 and a 1 year high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $281.57 and a 200-day moving average price of $260.13.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.97 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is 59.77%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $289.91.

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.