Stephens Inc. AR Sells 1,033 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Stephens Inc. AR reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 26,880 shares of the business services provider’s stock after selling 1,033 shares during the quarter. Stephens Inc. AR’s holdings in Automatic Data Processing were worth $7,438,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ADP. Norden Group LLC boosted its position in shares of Automatic Data Processing by 19.7% in the first quarter. Norden Group LLC now owns 4,393 shares of the business services provider’s stock valued at $1,097,000 after acquiring an additional 723 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Automatic Data Processing by 4.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,725 shares of the business services provider’s stock valued at $2,429,000 after purchasing an additional 432 shares during the last quarter. CNB Bank lifted its position in Automatic Data Processing by 8.0% during the first quarter. CNB Bank now owns 973 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 72 shares during the last quarter. Goelzer Investment Management Inc. lifted its position in Automatic Data Processing by 32.1% during the first quarter. Goelzer Investment Management Inc. now owns 4,962 shares of the business services provider’s stock valued at $1,239,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its position in Automatic Data Processing by 72.5% during the first quarter. Bryn Mawr Capital Management LLC now owns 5,907 shares of the business services provider’s stock valued at $1,475,000 after purchasing an additional 2,482 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 over the last three months. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADP. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, UBS Group lifted their price target 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. Two investment 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $285.09.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ ADP opened at $288.18 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 52 week low of $211.52 and a 52 week high of $294.18. The firm’s fifty day moving average is $281.57 and its 200 day moving average is $259.90. The company has a market cap of $117.53 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 3.21 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.20 by $0.13. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.98 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio 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.