Capital Counsel LLC NY Sells 1,177 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Counsel LLC NY decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 692,516 shares of the business services provider’s stock after selling 1,177 shares during the quarter. Automatic Data Processing comprises approximately 8.2% of Capital Counsel LLC NY’s investment portfolio, making the stock its 8th largest position. Capital Counsel LLC NY owned approximately 0.17% of Automatic Data Processing worth $191,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $27,000. Hexagon Capital Partners LLC grew its holdings in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing in the 3rd quarter valued at $35,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the 1st quarter valued at $36,000. Finally, New Millennium Group LLC bought a new position in shares of Automatic Data Processing during the second quarter valued at about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 17.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,504 shares of company stock worth $20,298,056 over the last quarter. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Trading Up 1.1 %

Shares of NASDAQ ADP opened at $307.97 on Wednesday. The stock has a market cap of $125.49 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.37. The firm has a 50-day moving average of $290.64 and a 200 day moving average of $267.03.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.77 billion. During the same period last year, the business earned $2.08 EPS. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s payout ratio is presently 59.77%.

About Automatic Data Processing

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.