CRA Financial Services LLC Has $274,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

CRA Financial Services LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 990 shares of the business services provider’s stock after selling 173 shares during the quarter. CRA Financial Services LLC’s holdings in Automatic Data Processing were worth $274,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Automatic Data Processing by 0.4% during the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after acquiring an additional 173,298 shares during the last quarter. Wellington Management Group LLP raised its holdings in Automatic Data Processing by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the period. Capital Research Global Investors boosted its stake in shares of Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after purchasing an additional 81,869 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after buying an additional 139,561 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. 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. Barclays upped their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America lifted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their target price 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, Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $267.83.

Insider Transactions at Automatic Data Processing

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction 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 transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s 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 transaction, the director now owns 36,741 shares in the company, 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. Over the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $288.36 on Friday. The firm has a market capitalization of $118.02 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average price is $273.55 and its two-hundred day moving average price is $255.40. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $288.50.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 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.