Delaney Dennis R Sells 132 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Delaney Dennis R cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 29,472 shares of the business services provider’s stock after selling 132 shares during the period. Automatic Data Processing makes up 3.8% of Delaney Dennis R’s portfolio, making the stock its 9th largest holding. Delaney Dennis R’s holdings in Automatic Data Processing were worth $7,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC raised its stake in shares of Automatic Data Processing by 105.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock worth $467,000 after buying an additional 1,034 shares in the last quarter. Norges Bank purchased a new position in Automatic Data Processing in the fourth quarter worth $308,321,000. Quest Partners LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $793,000. Assetmark Inc. lifted its holdings in Automatic Data Processing by 9.5% in the fourth quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock valued at $674,000 after acquiring an additional 251 shares during the period. Finally, Cassaday & Co Wealth Management LLC boosted its position in shares of Automatic Data Processing by 23.8% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,125 shares of the business services provider’s stock worth $262,000 after purchasing an additional 216 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus increased 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 boosted 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 note on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $265.36.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm’s 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 transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 over the last three months. 0.26% of the stock is owned by insiders.

Automatic Data Processing Trading Down 1.3 %

NASDAQ ADP opened at $275.91 on Thursday. The company has a market cap of $112.93 billion, a P/E ratio of 30.79, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day moving average of $263.15 and a 200-day moving average of $251.11.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 earnings per share. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.