Mayflower Financial Advisors LLC Sells 149 Shares of Automatic Data Processing, Inc. $ADP

Mayflower Financial Advisors LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,313 shares of the business services provider’s stock after selling 149 shares during the period. Mayflower Financial Advisors LLC’s holdings in Automatic Data Processing were worth $1,330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Jacobsen Capital Management lifted its stake in Automatic Data Processing by 3.8% during the 2nd quarter. Jacobsen Capital Management now owns 907 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 33 shares during the period. Signature Wealth Management Group increased its position in shares of Automatic Data Processing by 2.3% during the 2nd quarter. Signature Wealth Management Group now owns 1,450 shares of the business services provider’s stock valued at $447,000 after purchasing an additional 33 shares during the last quarter. Bangor Savings Bank increased its position in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock valued at $1,513,000 after purchasing an additional 34 shares during the last quarter. Ameritas Advisory Services LLC increased its position in shares of Automatic Data Processing by 2.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock valued at $502,000 after purchasing an additional 34 shares during the last quarter. Finally, Syntegra Private Wealth Group LLC increased its position in shares of Automatic Data Processing by 4.7% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.3%

Automatic Data Processing stock opened at $279.63 on Wednesday. The firm has a 50 day moving average of $292.39 and a 200 day moving average of $302.08. The firm has a market capitalization of $113.28 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 2.57 and a beta of 0.82. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is 61.72%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADP. Citigroup began coverage on shares of Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price target for the company. Wells Fargo & Company began coverage on shares of Automatic Data Processing in a research report on Wednesday, October 22nd. They set an “underweight” rating and a $288.00 price target for the company. Morgan Stanley upped their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. UBS Group reduced their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Finally, Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $313.17.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 597 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total transaction of $177,249.30. Following the completion of the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at $3,129,622.90. This trade represents a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total value of $2,604,697.04. Following the transaction, the vice president owned 80,531 shares of the company’s stock, valued at $24,032,866.33. This represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 52,516 shares of company stock worth $15,632,410. Insiders own 0.20% of the company’s stock.

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.