Capital Investment Counsel Inc Sells 50 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Investment Counsel Inc decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,481 shares of the business services provider’s stock after selling 50 shares during the quarter. Capital Investment Counsel Inc’s holdings in Automatic Data Processing were worth $4,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. McAdam LLC raised its holdings in shares of Automatic Data Processing by 6.7% in the 3rd quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock valued at $496,000 after purchasing an additional 112 shares during the period. Monte Financial Group LLC raised its stake in Automatic Data Processing by 1.1% in the 3rd quarter. Monte Financial Group LLC now owns 16,634 shares of the business services provider’s stock valued at $4,603,000 after acquiring an additional 173 shares during the period. Litman Gregory Wealth Management LLC lifted its holdings in Automatic Data Processing by 279.3% during the 3rd quarter. Litman Gregory Wealth Management LLC now owns 4,332 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 3,190 shares during the last quarter. Syntegra Private Wealth Group LLC bought a new position in Automatic Data Processing during the third quarter worth $206,000. Finally, Greenleaf Trust increased its holdings in shares of Automatic Data Processing by 11.5% in the third quarter. Greenleaf Trust now owns 36,168 shares of the business services provider’s stock valued at $10,009,000 after purchasing an additional 3,729 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ADP shares. Bank of America lifted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. 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 report on Tuesday. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays boosted 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. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $275.33.

Automatic Data Processing Trading Down 0.4 %

Shares of Automatic Data Processing stock opened at $290.04 on Thursday. The firm has a market capitalization of $118.71 billion, a PE ratio of 32.37, 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 50 day moving average is $278.40 and its 200 day moving average is $257.89. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating 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 analyst estimates of $4.74 billion. During the same period last year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research 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 declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 0.00 % decrease in their position. 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 insiders.

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.