FRG Family Wealth Advisors LLC Cuts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

FRG Family Wealth Advisors LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 25,530 shares of the business services provider’s stock after selling 290 shares during the quarter. Automatic Data Processing comprises about 1.3% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 19th biggest holding. FRG Family Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $7,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADP. Dynamic Advisor Solutions LLC grew its position in Automatic Data Processing by 1.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,303 shares of the business services provider’s stock valued at $1,982,000 after purchasing an additional 139 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Automatic Data Processing by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,010 shares of the business services provider’s stock valued at $1,912,000 after acquiring an additional 294 shares during the last quarter. Cooper Financial Group boosted its holdings in shares of Automatic Data Processing by 18.8% during the 2nd quarter. Cooper Financial Group now owns 1,140 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 180 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Automatic Data Processing by 12.3% during the 2nd quarter. Diversified Trust Co now owns 10,868 shares of the business services provider’s stock valued at $2,594,000 after acquiring an additional 1,193 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of Automatic Data Processing by 2,917.1% during the 2nd quarter. ORG Partners LLC now owns 4,224 shares of the business services provider’s stock valued at $997,000 after acquiring an additional 4,084 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $297.56 on Tuesday. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.63. The stock has a market cap of $121.24 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 3.54 and a beta of 0.79. The company’s 50 day moving average is $295.72 and its two-hundred day moving average is $270.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping 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 company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter last year, the business earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 given a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Citigroup raised 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. Two 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. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing 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.