JGP Wealth Management LLC Sells 197 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

JGP Wealth Management LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,355 shares of the business services provider’s stock after selling 197 shares during the period. Automatic Data Processing makes up 2.4% of JGP Wealth Management LLC’s portfolio, making the stock its 7th biggest position. JGP Wealth Management LLC’s holdings in Automatic Data Processing were worth $18,916,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlueSpruce Investments LP acquired a new stake in Automatic Data Processing during the 1st quarter worth about $365,757,000. Nordea Investment Management AB lifted its holdings in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after acquiring an additional 589,831 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Automatic Data Processing by 242.4% during the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADP shares. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America lifted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barclays upped their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, Citigroup boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $267.83.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $0.93 during trading on Friday, reaching $287.84. The stock had a trading volume of 162,780 shares, compared to its average volume of 1,629,188. 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 business has a fifty day moving average price of $273.05 and a 200-day moving average price of $255.02. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $288.50. The stock has a market cap of $117.39 billion, a PE ratio of 31.49, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 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. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.47%.

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.