Bradley Foster & Sargent Inc. CT Sells 3,366 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Bradley Foster & Sargent Inc. CT trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,292 shares of the business services provider’s stock after selling 3,366 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Automatic Data Processing were worth $35,396,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Moors & Cabot Inc. increased its holdings in shares of Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after purchasing an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. grew its position in Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after acquiring an additional 40 shares in the last quarter. Confluence Wealth Services Inc. grew its position in Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after acquiring an additional 41 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after acquiring an additional 43 shares in the last quarter. Finally, Patron Partners LLC grew its position in Automatic Data Processing by 1.6% in the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ ADP opened at $279.41 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $114.36 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.02 and a beta of 0.79. The stock has a 50 day moving average price of $262.31 and a 200 day moving average price of $250.94. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $281.54.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America lifted 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. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $265.36.

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.