Valley National Advisers Inc. Has $432,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Valley National Advisers Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 65.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,566 shares of the business services provider’s stock after selling 2,910 shares during the quarter. Valley National Advisers Inc.’s holdings in Automatic Data Processing were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. BlueSpruce Investments LP acquired a new position in Automatic Data Processing in the first quarter valued at about $365,757,000. International Assets Investment Management LLC raised its position in shares of Automatic Data Processing by 28,478.6% during the third 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. Nordea Investment Management AB lifted its holdings in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after purchasing an additional 552,096 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Automatic Data Processing by 242.4% during the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $277.64.

Automatic Data Processing Stock Down 0.5 %

ADP stock opened at $287.96 on Monday. The company has a market cap of $117.86 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $294.18. The business has a 50 day moving average price of $279.40 and a two-hundred day moving average price of $258.54. 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 issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share 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 business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared 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. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of the firm’s 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 sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. 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 available at this link. In related news, VP Don Mcguire sold 3,179 shares of the company’s 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 owns 41,696 shares in the company, valued at approximately $11,440,548.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now owns 10,410 shares of the company’s stock, 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 a total of 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.26% of the stock is currently owned by insiders.

About Automatic Data Processing

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.