Janney Capital Management LLC Has $2.65 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Janney Capital Management LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,574 shares of the business services provider’s stock after selling 75 shares during the quarter. Janney Capital Management LLC’s holdings in Automatic Data Processing were worth $2,650,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the second quarter worth $27,000. Keener Financial Planning LLC increased its holdings in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC bought a new stake in Automatic Data Processing in the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the first quarter valued at about $36,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

NASDAQ:ADP opened at $288.18 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $117.53 billion, a PE ratio of 30.76, a PEG ratio of 3.21 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $211.52 and a 52-week high of $294.18. The stock has a 50-day simple moving average of $281.57 and a 200 day simple moving average of $260.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.98 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s payout ratio is presently 59.77%.

Insider Buying and Selling

In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’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 value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. This trade 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 is available through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADP shares. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $285.09.

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.