Measured Wealth Private Client Group LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Measured Wealth Private Client Group LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,432 shares of the business services provider’s stock after selling 283 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Automatic Data Processing were worth $396,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TD Asset Management Inc grew its stake in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after purchasing an additional 264,466 shares during the period. SG Americas Securities LLC boosted its position in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after purchasing an additional 34,118 shares during the period. Toronto Dominion Bank boosted its position in shares of Automatic Data Processing by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after purchasing an additional 4,253 shares during the period. Finally, Plato Investment Management Ltd boosted its position in shares of Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after purchasing an additional 5,114 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $292.78 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The company’s 50 day moving average is $280.80 and its two-hundred day moving average is $259.38. The firm has a market cap of $119.83 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. 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 announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the business earned $2.08 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $1.40 dividend. 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 1.91%. Automatic Data Processing’s payout ratio is 62.50%.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. UBS Group increased their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $277.64.

Insider Activity

In other news, VP David Kwon sold 846 shares of the firm’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 sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP David Kwon sold 846 shares of the 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 transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing 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.