SageView Advisory Group LLC Cuts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

SageView Advisory Group LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,049 shares of the business services provider’s stock after selling 1,069 shares during the period. SageView Advisory Group LLC’s holdings in Automatic Data Processing were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantinno Capital Management LP boosted its position in shares of Automatic Data Processing by 35.0% in the third quarter. Quantinno Capital Management LP now owns 43,766 shares of the business services provider’s stock valued at $12,112,000 after acquiring an additional 11,353 shares during the period. Quarry LP lifted its stake in Automatic Data Processing by 103.0% in the 3rd quarter. Quarry LP now owns 2,938 shares of the business services provider’s stock worth $813,000 after purchasing an additional 1,491 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Automatic Data Processing by 7.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 219,784 shares of the business services provider’s stock valued at $60,821,000 after purchasing an additional 14,894 shares during the period. Port Capital LLC purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at $11,242,000. Finally, IHT Wealth Management LLC increased its holdings in shares of Automatic Data Processing by 8.6% in the third quarter. IHT Wealth Management LLC now owns 7,327 shares of the business services provider’s stock worth $2,030,000 after purchasing an additional 580 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADP. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group increased 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $304.56 on Friday. The company has a 50-day simple moving average of $295.31 and a two-hundred day simple moving average of $270.01. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.63. The firm has a market cap of $124.10 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 3.53 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 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.02%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.