Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Reduced by World Asset Management Inc

World Asset Management Inc trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,860 shares of the business services provider’s stock after selling 851 shares during the period. World Asset Management Inc’s holdings in Automatic Data Processing were worth $1,971,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Rafferty Asset Management LLC grew its position in Automatic Data Processing by 13.9% in the third quarter. Rafferty Asset Management LLC now owns 98,137 shares of the business services provider’s stock worth $19,620,000 after acquiring an additional 11,969 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Automatic Data Processing by 255.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 48,746 shares of the business services provider’s stock worth $9,754,000 after acquiring an additional 35,029 shares in the last quarter. Creative Planning boosted its holdings in shares of Automatic Data Processing by 1.9% during the 3rd quarter. Creative Planning now owns 83,242 shares of the business services provider’s stock worth $16,642,000 after buying an additional 1,545 shares during the period. Forsta AP Fonden boosted its holdings in shares of Automatic Data Processing by 17.8% during the 3rd quarter. Forsta AP Fonden now owns 109,200 shares of the business services provider’s stock worth $21,831,000 after buying an additional 16,500 shares during the period. Finally, Avidian Wealth Solutions LLC boosted its holdings in shares of Automatic Data Processing by 13.4% during the 3rd quarter. Avidian Wealth Solutions LLC now owns 2,359 shares of the business services provider’s stock worth $472,000 after buying an additional 278 shares during the period. 78.32% of the stock is owned by institutional investors.

In other news, VP Deborah L. Dyson sold 2,161 shares of the company’s stock in a transaction dated Wednesday, January 12th. The shares were sold at an average price of $235.13, for a total value of $508,115.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stuart Sackman sold 738 shares of the company’s stock in a transaction dated Friday, December 3rd. The stock was sold at an average price of $228.39, for a total transaction of $168,551.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,928 shares of company stock worth $28,959,765. 0.34% of the stock is owned by insiders.

Shares of ADP stock traded down $1.87 during mid-day trading on Friday, reaching $230.06. The company’s stock had a trading volume of 1,680 shares, compared to its average volume of 1,361,209. Automatic Data Processing, Inc. has a 1-year low of $159.31 and a 1-year high of $248.96. The company has a market cap of $96.94 billion, a P/E ratio of 36.70, a PEG ratio of 2.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day moving average is $235.55 and its two-hundred day moving average is $217.35.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Tuesday, October 26th. The business services provider reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.16. Automatic Data Processing had a net margin of 17.55% and a return on equity of 47.31%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 6.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 1st. Stockholders of record on Friday, March 11th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, March 10th. Automatic Data Processing’s payout ratio is 65.82%.

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Automatic Data Processing from $210.00 to $235.00 and gave the stock a “hold” rating in a report on Thursday, October 28th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $215.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, October 27th. Citigroup upped their price objective on shares of Automatic Data Processing from $220.00 to $238.00 and gave the stock a “neutral” rating in a report on Wednesday, December 1st. Barclays upped their target price on shares of Automatic Data Processing from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, October 29th. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $241.00 target price for the company in a research note on Tuesday, December 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $231.46.

Automatic Data Processing Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)