Mill Creek Capital Advisors LLC Reduces Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mill Creek Capital Advisors LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,601 shares of the business services provider’s stock after selling 72 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Automatic Data Processing were worth $443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. raised 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 worth $964,989,000 after acquiring an additional 435,093 shares in the last quarter. Capital Research Global Investors raised its position in shares of Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after acquiring an additional 81,869 shares in the last quarter. Legal & General Group Plc raised its position in shares of Automatic Data Processing by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares in the last quarter. Ninety One UK Ltd raised its position in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock worth $610,182,000 after acquiring an additional 9,464 shares in the last quarter. Finally, Accredited Investors Inc. raised its position in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after acquiring an additional 2,264,202 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.4 %

Automatic Data Processing stock opened at $297.64 on Monday. The firm has a market cap of $121.28 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.46 and a beta of 0.79. The stock has a fifty day simple moving average of $287.23 and a two-hundred day simple moving average of $264.14. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. 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 (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 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 analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 65.74%.

Analysts Set New Price Targets

ADP has been the subject of several research reports. Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is 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.