11,180 Automatic Data Processing, Inc. $ADP Shares Sold by Compass Capital Management Inc.

Compass Capital Management Inc. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,648 shares of the business services provider’s stock after selling 11,180 shares during the period. Automatic Data Processing comprises 3.4% of Compass Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Compass Capital Management Inc. owned 0.05% of Automatic Data Processing worth $53,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. BlackRock Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter worth $8,097,229,000. Bank of America Corp DE purchased a new stake in shares of Automatic Data Processing in the 2nd quarter worth $1,231,175,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing in the 2nd quarter worth $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Automatic Data Processing by 3.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after purchasing an additional 129,376 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Automatic Data Processing in the 2nd quarter worth $725,513,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 2,927 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $293.70, for a total transaction of $859,659.90. Following the transaction, the vice president directly owned 14,865 shares of the company’s stock, valued at $4,365,850.50. The trade was a 16.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 50,207 shares of company stock valued at $14,522,300. 0.15% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $309.93 on Friday. The stock has a 50-day moving average price of $281.38 and a 200 day moving average price of $243.13. The stock has a market capitalization of $122.35 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.76 and a beta of 0.77. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $311.89. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.98.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the firm earned $2.49 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.38 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 2.5%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Friday, December 11th. Automatic Data Processing’s payout ratio is presently 60.28%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADP shares. Wells Fargo & Company lifted their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Citigroup upped their price target on Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $290.00 price objective on shares of Automatic Data Processing in a research report on Thursday, October 29th. Finally, Jefferies Financial Group boosted their price objective on Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a research note on Wednesday, October 28th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $285.00.

Automatic Data Processing 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.