Automatic Data Processing, Inc. (NASDAQ:ADP) is William Allan Corp’s 8th Largest Position

William Allan Corp lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,111 shares of the business services provider’s stock after selling 172 shares during the quarter. Automatic Data Processing makes up approximately 3.5% of William Allan Corp’s holdings, making the stock its 8th largest holding. William Allan Corp’s holdings in Automatic Data Processing were worth $5,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing during the second quarter valued at about $27,000. Hexagon Capital Partners LLC grew its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing in the 1st quarter worth about $36,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing during the second quarter valued at about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of several research reports. Jefferies Financial Group raised 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, October 22nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two 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. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,504 shares of company stock worth $20,298,056. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.3 %

NASDAQ:ADP opened at $306.92 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day simple moving average is $291.84 and its 200-day simple moving average is $267.58. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.63. The stock has a market capitalization of $125.06 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 3.57 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

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.