Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% during the third quarter, HoldingsChannel reports. The firm owned 43,686 shares of the business services provider’s stock after selling 2,554 shares during the period. Prio Wealth Limited Partnership’s holdings in Automatic Data Processing were worth $12,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. TD Asset Management Inc lifted its stake in shares of Automatic Data Processing by 14.2% in 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Automatic Data Processing by 70.7% in the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after acquiring an additional 264,466 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after acquiring 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 first quarter worth about $2,924,000. Finally, LVW Advisors LLC lifted its stake in shares of Automatic Data Processing by 23.8% in the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after acquiring an additional 740 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADP. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Barclays boosted 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. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $2.02 during trading on Monday, hitting $290.27. 128,759 shares of the company traded hands, compared to its average volume of 1,628,814. The stock has a market capitalization of $118.80 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 3.13 and a beta of 0.79. The business’s fifty day moving average is $276.64 and its 200-day moving average is $256.99. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. 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 (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 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 analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. As a group, equities 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 announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

In other news, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Company 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.