Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Accredited Investors Inc.

Accredited Investors Inc. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 51,019 shares of the business services provider’s stock after selling 74 shares during the period. Automatic Data Processing makes up 0.8% of Accredited Investors Inc.’s portfolio, making the stock its 26th biggest holding. Accredited Investors Inc.’s holdings in Automatic Data Processing were worth $14,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tower Wealth Partners Inc. raised its stake in shares of Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares in the last quarter. Harbour Investments Inc. grew its holdings in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares during the period. Petredis Investment Advisors LLC raised its position in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after acquiring an additional 39 shares during the last quarter. Finally, Austin Private Wealth LLC boosted its position in shares of Automatic Data Processing by 4.4% during the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at $9,899,862.45. This trade represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 1.4 %

Shares of NASDAQ ADP opened at $297.64 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37. The business has a 50-day moving average price of $287.23 and a two-hundred day moving average price of $264.02. The firm has a market capitalization of $121.28 billion, a PE ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio is 59.77%.

Analyst Ratings Changes

A number of analysts recently commented on ADP shares. Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Bank of America increased their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $289.91.

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.