Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Richwood Investment Advisors LLC

Richwood Investment Advisors LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,784 shares of the business services provider’s stock after selling 480 shares during the period. Richwood Investment Advisors LLC’s holdings in Automatic Data Processing were worth $494,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ADP. TD Asset Management Inc grew its holdings in Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the period. Assenagon Asset Management S.A. grew its stake 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 increased its holdings 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 valued at $12,888,000 after purchasing an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $2,924,000. Finally, LVW Advisors LLC boosted its holdings in Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after buying an additional 740 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Bank of America increased their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group increased their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $267.83.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $1.39 during trading hours on Tuesday, reaching $292.39. 215,650 shares of the company’s stock were exchanged, compared to its average volume of 1,622,737. The business has a fifty day moving average of $274.20 and a two-hundred day moving average of $255.74. The company has a market capitalization of $119.67 billion, a P/E ratio of 32.48, 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, Inc. has a 1 year low of $205.53 and a 1 year high of $294.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. Automatic Data Processing’s payout ratio is 62.50%.

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.