Tanager Wealth Management LLP Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tanager Wealth Management LLP decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% during the third quarter, HoldingsChannel reports. The fund owned 1,032 shares of the business services provider’s stock after selling 58 shares during the quarter. Tanager Wealth Management LLP’s holdings in Automatic Data Processing were worth $287,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after purchasing an additional 1,190,407 shares during the period. McAdam LLC lifted its stake in Automatic Data Processing by 6.7% in the third quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock worth $496,000 after purchasing an additional 112 shares during the last quarter. Monte Financial Group LLC lifted its stake in Automatic Data Processing by 1.1% in the third quarter. Monte Financial Group LLC now owns 16,634 shares of the business services provider’s stock worth $4,603,000 after purchasing an additional 173 shares during the last quarter. Litman Gregory Wealth Management LLC boosted its position in shares of Automatic Data Processing by 279.3% during the third quarter. Litman Gregory Wealth Management LLC now owns 4,332 shares of the business services provider’s stock valued at $1,199,000 after buying an additional 3,190 shares during the period. Finally, Syntegra Private Wealth Group LLC bought a new position in shares of Automatic Data Processing during the third quarter valued at approximately $206,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ADP shares. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $275.33.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.4 %

Shares of NASDAQ ADP opened at $290.04 on Thursday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The business has a fifty day moving average price of $278.40 and a 200 day moving average price of $257.89. The stock has a market capitalization of $118.71 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS 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 paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.