Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,343 shares of the business services provider’s stock after selling 1,040 shares during the period. Mutual Advisors LLC’s holdings in Automatic Data Processing were worth $2,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc raised its position in shares of Automatic Data Processing by 14.2% during the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares during the period. SG Americas Securities LLC raised its position in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the period. Toronto Dominion Bank raised its position in shares of Automatic Data Processing by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after buying an additional 4,253 shares during the period. Finally, Plato Investment Management Ltd raised its position in shares of Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock valued at $6,352,000 after buying an additional 5,114 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $289.24 on Friday. 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 company has a fifty day simple moving average of $281.20 and a two-hundred day simple moving average of $259.59. The company has a market cap of $118.38 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, equities analysts anticipate 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 was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s payout ratio is currently 62.50%.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $282.00.

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.