Lederer & Associates Investment Counsel CA Has $3.20 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Lederer & Associates Investment Counsel CA lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,576 shares of the business services provider’s stock after selling 165 shares during the period. Automatic Data Processing makes up 2.3% of Lederer & Associates Investment Counsel CA’s portfolio, making the stock its 8th biggest position. Lederer & Associates Investment Counsel CA’s holdings in Automatic Data Processing were worth $3,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Baker Tilly Wealth Management LLC lifted its position in shares of Automatic Data Processing by 19.7% in the third quarter. Baker Tilly Wealth Management LLC now owns 1,227 shares of the business services provider’s stock worth $340,000 after purchasing an additional 202 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Automatic Data Processing by 23.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 264 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 50 shares during the period. L. Roy Papp & Associates LLP lifted its stake in Automatic Data Processing by 0.5% in the 3rd quarter. L. Roy Papp & Associates LLP now owns 9,602 shares of the business services provider’s stock valued at $2,657,000 after purchasing an additional 45 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Automatic Data Processing by 3.5% during the third quarter. J.W. Cole Advisors Inc. now owns 6,080 shares of the business services provider’s stock worth $1,682,000 after purchasing an additional 208 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Automatic Data Processing by 6.3% during the third quarter. State of Alaska Department of Revenue now owns 47,375 shares of the business services provider’s stock worth $13,110,000 after buying an additional 2,810 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP 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 PEG ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $279.40 and a 200-day moving average price of $258.54.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

ADP has been the topic of a number of recent analyst reports. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Stifel Nicolaus increased 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. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Citigroup boosted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $277.64.

Insiders Place Their Bets

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s 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 sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. 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 through this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s 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 transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 over the last three months. Insiders own 0.26% of the company’s stock.

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.