Automatic Data Processing, Inc. $ADP Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 480,010 shares of the business services provider’s stock after selling 97,739 shares during the quarter. Automatic Data Processing accounts for about 0.9% of Jefferies Financial Group Inc.’s portfolio, making the stock its 7th biggest position. Jefferies Financial Group Inc.’s holdings in Automatic Data Processing were worth $123,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. boosted its holdings in Automatic Data Processing by 77.6% during the 3rd quarter. First Command Advisory Services Inc. now owns 2,334 shares of the business services provider’s stock worth $606,000 after acquiring an additional 1,020 shares during the last quarter. Brooklyn FI LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth $473,000. AMG National Trust Bank raised its holdings in shares of Automatic Data Processing by 0.3% in the third quarter. AMG National Trust Bank now owns 11,660 shares of the business services provider’s stock valued at $3,009,000 after purchasing an additional 35 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Automatic Data Processing by 0.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,477 shares of the business services provider’s stock valued at $3,478,000 after purchasing an additional 44 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in shares of Automatic Data Processing by 3.9% in the third quarter. Keybank National Association OH now owns 183,326 shares of the business services provider’s stock valued at $47,309,000 after purchasing an additional 6,803 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Virginia Magliulo sold 2,927 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $293.70, for a total transaction of $859,659.90. Following the completion of the sale, the vice president owned 14,865 shares in the company, valued at approximately $4,365,850.50. This trade represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of Automatic Data Processing stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the sale, the vice president directly owned 13,193 shares in the company, valued at approximately $3,694,040. This represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 50,207 shares of company stock valued at $14,522,300 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a research report on Wednesday, October 28th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Citigroup increased their price objective on shares of Automatic Data Processing from $287.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $285.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Finally, Guggenheim restated a “buy” rating and issued a $340.00 target price on shares of Automatic Data Processing in a research note on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $285.00.

Automatic Data Processing Stock Up 0.3%

Shares of NASDAQ:ADP opened at $306.36 on Thursday. The company has a market capitalization of $120.94 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $280.31 and a two-hundred day moving average price of $242.61. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.98.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.48 billion. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $2.49 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be given a dividend of $1.90 per share. The ex-dividend date is Friday, December 11th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 60.28%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.