Ascent Wealth Partners LLC Sells 469 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ascent Wealth Partners LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,387 shares of the business services provider’s stock after selling 469 shares during the period. Automatic Data Processing comprises about 1.8% of Ascent Wealth Partners LLC’s holdings, making the stock its 9th biggest position. Ascent Wealth Partners LLC’s holdings in Automatic Data Processing were worth $12,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Keener Financial Planning LLC increased its stake in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter worth about $33,000. Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth approximately $36,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $39,000. Finally, MFA Wealth Advisors LLC acquired a new position in Automatic Data Processing during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Barclays raised 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $265.36.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded up $2.55 during mid-day trading on Friday, hitting $275.91. The company’s stock had a trading volume of 1,548,080 shares, compared to its average volume of 1,644,018. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $276.77. The stock’s fifty day moving average price is $253.29 and its two-hundred day moving average price is $248.98. The stock has a market capitalization of $112.93 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.72 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released 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 net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 payout ratio is presently 62.50%.

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.