Courier Capital LLC Sells 329 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Courier Capital LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,441 shares of the business services provider’s stock after selling 329 shares during the quarter. Courier Capital LLC’s holdings in Automatic Data Processing were worth $2,059,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ADP. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at about $27,000. Keener Financial Planning LLC boosted its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at about $36,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Down 0.4 %

ADP stock opened at $290.04 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market cap of $118.71 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The business has a 50 day moving average of $278.40 and a 200 day moving average of $257.89.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued 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 payout ratio is 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on 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 owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on 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 $9,899,862.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Citigroup increased their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $275.33.

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.