Spring Capital Management LLC Has $5.61 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Spring Capital Management LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,274 shares of the business services provider’s stock after selling 635 shares during the quarter. Automatic Data Processing makes up 4.1% of Spring Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Spring Capital Management LLC’s holdings in Automatic Data Processing were worth $5,610,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth approximately $27,000. Keener Financial Planning LLC lifted its holdings in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.0 %

NASDAQ:ADP traded up $0.01 during mid-day trading on Wednesday, hitting $291.35. The company had a trading volume of 51,373 shares, compared to its average volume of 1,622,411. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The business’s fifty day moving average is $277.86 and its two-hundred day moving average is $257.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $119.25 billion, a P/E ratio of 32.52, a P/E/G ratio of 3.13 and a beta of 0.79.

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, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for 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%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on ADP. Bank of America upped their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday. Stifel Nicolaus upped their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $275.33.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated 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 transaction, the director now directly owns 36,741 shares in the company, 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. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated 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 transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.26% of the stock is owned by company insiders.

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.