Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by US Asset Management LLC

US Asset Management LLC cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,054 shares of the business services provider’s stock after selling 197 shares during the period. Automatic Data Processing makes up 1.1% of US Asset Management LLC’s holdings, making the stock its 21st largest position. US Asset Management LLC’s holdings in Automatic Data Processing were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BlueSpruce Investments LP acquired a new position in Automatic Data Processing in the 1st quarter worth approximately $365,757,000. Norges Bank purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $308,321,000. Capital Research Global Investors lifted its position in Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after purchasing an additional 649,791 shares during the period. Nordea Investment Management AB boosted its holdings in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Down 0.3 %

ADP stock opened at $277.51 on Friday. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $279.58. 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 50-day simple moving average of $260.52 and a 200-day simple moving average of $250.55. The stock has a market capitalization of $113.17 billion, a P/E ratio of 30.97, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate 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%. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the subject of several analyst reports. Barclays boosted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Company 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.