Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 80.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,875 shares of the business services provider’s stock after selling 7,505 shares during the period. Portfolio Design Labs LLC’s holdings in Automatic Data Processing were worth $519,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $27,000. Hexagon Capital Partners LLC increased its stake in shares of 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 period. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $35,000. Finally, Pathway Financial Advisers LLC bought a new position in Automatic Data Processing in the 1st quarter worth approximately $36,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the 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 directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value 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. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $297.54 on Wednesday. The company has a market capitalization of $121.24 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. 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 stock has a fifty day moving average of $288.04 and a 200-day moving average of $264.93. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate 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 revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis 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 currently 59.77%.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Two equities research 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’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $289.91.

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.