Valley Brook Capital Group Inc. Sells 208 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Valley Brook Capital Group Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.0% during the third quarter, HoldingsChannel reports. The fund owned 5,057 shares of the business services provider’s stock after selling 208 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Automatic Data Processing were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC grew its position 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 purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing in the first quarter worth $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing in the first quarter worth $36,000. Finally, New Millennium Group LLC bought a new stake in Automatic Data Processing during the second quarter valued at $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the 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 transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America upped their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.4 %

ADP stock traded down $1.26 during midday trading on Thursday, hitting $303.92. The company had a trading volume of 53,764 shares, compared to its average volume of 1,630,231. The stock has a market cap of $123.95 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $223.28 and a 52 week high of $306.71. 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 stock’s 50 day moving average price is $282.92 and its 200 day moving average price is $261.11.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.03%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

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.