Hennion & Walsh Asset Management Inc. Sells 548 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,232 shares of the business services provider’s stock after selling 548 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Automatic Data Processing were worth $3,662,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the second quarter worth $27,000. Keener Financial Planning LLC increased its holdings in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ADP. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ:ADP opened at $289.43 on Friday. The firm has a market cap of $118.46 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The business has a fifty day simple moving average of $278.40 and a 200 day simple moving average of $257.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the company earned $1.89 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last quarter. Insiders own 0.26% of the company’s stock.

About Automatic Data Processing

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.