Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Reduced by DE Burlo Group Inc.

DE Burlo Group Inc. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,484 shares of the business services provider’s stock after selling 150 shares during the quarter. DE Burlo Group Inc.’s holdings in Automatic Data Processing were worth $832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the 2nd quarter valued at $27,000. Keener Financial Planning LLC grew its holdings in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing in the first quarter worth about $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at about $36,000. Finally, New Millennium Group LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ADP shares. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. 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 report on Tuesday, August 20th. Barclays upped their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Down 0.5 %

Automatic Data Processing stock opened at $275.25 on Thursday. The company has a market capitalization of $112.26 billion, a P/E ratio of 30.72, a P/E/G ratio of 3.02 and a beta of 0.79. The firm’s fifty day simple moving average is $266.07 and its 200-day simple moving average is $252.09. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $281.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced 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 of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at $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 ninety days. Company insiders own 0.26% of the company’s stock.

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.