Hazlett Burt & Watson Inc. Sells 143 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Hazlett Burt & Watson Inc. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,120 shares of the business services provider’s stock after selling 143 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Automatic Data Processing were worth $311,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADP. Vanguard Group Inc. grew its holdings in Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares during the period. Ameriprise Financial Inc. raised its position in shares of Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Automatic Data Processing by 2.3% in the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after buying an additional 81,869 shares in the last quarter. Legal & General Group Plc boosted its position in Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares during the last quarter. Finally, Ninety One UK Ltd grew its stake in Automatic Data Processing by 0.4% during the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after acquiring an additional 9,464 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.9 %

Shares of NASDAQ:ADP traded up $2.48 during trading hours on Monday, reaching $290.66. The stock had a trading volume of 305,903 shares, compared to its average volume of 1,630,922. The stock has a market capitalization of $118.54 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 3.32 and a beta of 0.78. The firm’s 50 day moving average is $281.57 and its 200-day moving average is $260.13. Automatic Data Processing, Inc. has a 1 year low of $218.63 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm 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. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.97 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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 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 payout ratio is 59.77%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing 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 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 SEC, which can be accessed through this hyperlink. In other news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated 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 owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $289.91.

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.