Midland Wealth Advisors LLC Sells 250 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Midland Wealth Advisors LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,874 shares of the business services provider’s stock after selling 250 shares during the period. Midland Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Keener Financial Planning LLC grew its stake in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter worth $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter valued at approximately $36,000. Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $39,000. Finally, MFA Wealth Advisors LLC acquired a new stake 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.

Automatic Data Processing Stock Performance

Shares of ADP opened at $275.55 on Wednesday. The stock has a 50 day moving average of $254.37 and a 200 day moving average of $249.29. The company has a market capitalization of $112.78 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 3.00 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $278.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.03%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction 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 in the company, valued at $23,959,908.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADP has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays upped their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $265.36.

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.