Arlington Partners LLC Cuts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Arlington Partners LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,835 shares of the business services provider’s stock after selling 255 shares during the quarter. Arlington Partners LLC’s holdings in Automatic Data Processing were worth $3,064,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. TD Asset Management Inc increased its holdings in Automatic Data Processing by 14.2% during the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after acquiring an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares in the last quarter. SG Americas Securities LLC increased its holdings in Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $2,924,000. Finally, LVW Advisors LLC increased its holdings in Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $265.36.

Insiders Place Their Bets

In other news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Insiders sold a total of 49,614 shares of company stock valued at $13,519,460 over the last 90 days. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ:ADP traded down $0.61 during midday trading on Friday, reaching $269.56. The company had a trading volume of 2,814,514 shares, compared to its average volume of 1,648,719. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $256.39 and its 200-day moving average price is $249.71. The stock has a market capitalization of $110.33 billion, a P/E ratio of 30.08, a PEG ratio of 3.00 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $278.24.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.