DSM Capital Partners LLC Sells 492,167 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

DSM Capital Partners LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 99.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,892 shares of the business services provider’s stock after selling 492,167 shares during the period. DSM Capital Partners LLC’s holdings in Automatic Data Processing were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Gryphon Financial Partners LLC raised its stake in Automatic Data Processing by 105.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after acquiring an additional 1,034 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Automatic Data Processing by 4.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 12,977 shares of the business services provider’s stock worth $3,072,000 after buying an additional 573 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Automatic Data Processing by 68.5% during the 4th quarter. TD Asset Management Inc now owns 702,342 shares of the business services provider’s stock worth $163,625,000 after buying an additional 285,580 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Automatic Data Processing during the 4th quarter worth about $1,470,000. Finally, TFO Wealth Partners LLC grew its stake in Automatic Data Processing by 1,542.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,332 shares of the business services provider’s stock valued at $543,000 after buying an additional 2,190 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday. Bank of America increased their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report 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, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $267.83.

Insider Activity at Automatic Data Processing

In other 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 completion of the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.5 %

Shares of ADP opened at $275.25 on Thursday. The firm has a 50 day simple moving average of $266.07 and a two-hundred day simple moving average of $252.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $281.54. The company has a market cap 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.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.