Automatic Data Processing, Inc. (NASDAQ:ADP) Position Cut by Capital City Trust Co. FL

Capital City Trust Co. FL lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,172 shares of the business services provider’s stock after selling 53 shares during the period. Capital City Trust Co. FL’s holdings in Automatic Data Processing were worth $1,155,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accredited Investors Inc. raised its stake in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. BlueSpruce Investments LP bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $365,757,000. International Assets Investment Management LLC increased its stake 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 valued at $3,305,780,000 after acquiring an additional 1,190,407 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Automatic Data Processing by 242.4% in the second 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 during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus upped their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. 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, the company has an average rating of “Hold” and a consensus target price of $289.91.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the stock in a transaction 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 in the company, valued at approximately $2,816,946. This represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 1.4 %

Shares of ADP stock opened at $297.64 on Monday. The stock’s 50 day simple moving average is $287.23 and its 200 day simple moving average is $264.14. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37. 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 company has a market capitalization of $121.28 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.46 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s payout ratio is currently 65.74%.

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.