Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% in the third quarter, Holdings Channel.com reports. The fund owned 1,345 shares of the business services provider’s stock after selling 75 shares during the period. Forte Capital LLC ADV’s holdings in Automatic Data Processing were worth $372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Alpha LLC grew its holdings in shares of Automatic Data Processing by 4.4% in the 1st quarter. Advisory Alpha LLC now owns 1,316 shares of the business services provider’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Advisory Services Network LLC increased its stake in Automatic Data Processing by 10.8% in the 1st quarter. Advisory Services Network LLC now owns 16,991 shares of the business services provider’s stock worth $4,243,000 after purchasing an additional 1,654 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Automatic Data Processing by 49.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 24,009 shares of the business services provider’s stock worth $5,996,000 after buying an additional 7,921 shares during the period. Empowered Funds LLC lifted its stake in Automatic Data Processing by 50.7% during the first quarter. Empowered Funds LLC now owns 17,304 shares of the business services provider’s stock valued at $4,322,000 after buying an additional 5,818 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lifted 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 report on Thursday, August 1st. UBS Group boosted 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 raised their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays lifted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday. Finally, TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.1 %

NASDAQ:ADP opened at $304.85 on Friday. The company’s 50 day moving average is $282.92 and its 200-day moving average is $261.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $223.28 and a 12 month high of $306.71. The firm has a market cap of $124.21 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 3.37 and a beta of 0.79.

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, topping the consensus estimate 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 firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the firm posted $2.08 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $1.54 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the company’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 transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last 90 days. 0.21% of the stock is currently owned by insiders.

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.