Deseret Mutual Benefit Administrators Sells 60 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Deseret Mutual Benefit Administrators lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,303 shares of the business services provider’s stock after selling 60 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Automatic Data Processing were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Tower Wealth Partners Inc. lifted its stake in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares during the period. Petredis Investment Advisors LLC raised its stake in Automatic Data Processing by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares during the last quarter. Moors & Cabot Inc. lifted its position in Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 39 shares during the period. Austin Private Wealth LLC increased its holdings in Automatic Data Processing by 4.4% in the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after buying an additional 39 shares during the period. Finally, Schmidt P J Investment Management Inc. raised its position in Automatic Data Processing by 0.4% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after buying an additional 40 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This 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. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The shares were 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 approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $305.18 on Thursday. The company has a market cap of $124.46 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $219.21 and a twelve month high of $306.71. The company’s 50-day moving average price is $282.92 and its 200-day moving average price is $261.11. 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 released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $2.08 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share 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 given a dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s payout ratio is presently 59.77%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus increased their target price 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. Royal Bank of Canada lifted their price target on 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. Bank of America increased their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing 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.