Joel Isaacson & Co. LLC Sells 753 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Joel Isaacson & Co. LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 14.1% during the second quarter, HoldingsChannel reports. The firm owned 4,573 shares of the business services provider’s stock after selling 753 shares during the period. Joel Isaacson & Co. LLC’s holdings in Automatic Data Processing were worth $961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADP. First Hawaiian Bank boosted its holdings in Automatic Data Processing by 1.1% in the first quarter. First Hawaiian Bank now owns 4,176 shares of the business services provider’s stock worth $950,000 after acquiring an additional 45 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Automatic Data Processing by 1.4% in the first quarter. Lindbrook Capital LLC now owns 3,302 shares of the business services provider’s stock worth $751,000 after acquiring an additional 46 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Automatic Data Processing by 0.4% in the first quarter. Atlantic Union Bankshares Corp now owns 10,589 shares of the business services provider’s stock worth $2,409,000 after purchasing an additional 47 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of Automatic Data Processing by 0.8% in the first quarter. Jacobi Capital Management LLC now owns 5,585 shares of the business services provider’s stock worth $1,271,000 after purchasing an additional 47 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Automatic Data Processing by 1.4% in the first quarter. Empowered Funds LLC now owns 3,480 shares of the business services provider’s stock worth $792,000 after purchasing an additional 48 shares during the last quarter. 79.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on ADP shares. Cowen raised their price objective on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday. Mizuho raised their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Barclays raised their price objective on Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Cowen raised their price objective on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday. Finally, Wolfe Research reduced their price objective on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $236.85.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $1.20 on Friday, reaching $229.27. The company’s stock had a trading volume of 36,969 shares, compared to its average volume of 1,759,723. The company has a market capitalization of $95.27 billion, a P/E ratio of 32.88, a PEG ratio of 2.39 and a beta of 0.82. Automatic Data Processing, Inc. has a 52-week low of $192.26 and a 52-week high of $261.59. The stock has a 50-day moving average price of $240.78 and a 200-day moving average price of $225.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Analysts expect that Automatic Data Processing, Inc. will post 8.05 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a $1.04 dividend. The ex-dividend date is Thursday, September 8th. This represents a $4.16 dividend on an annualized basis and a yield of 1.81%. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Insider Buying and Selling at Automatic Data Processing

In related news, CEO Carlos A. Rodriguez sold 37,594 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $237.95, for a total value of $8,945,492.30. Following the sale, the chief executive officer now owns 44,426 shares in the company, valued at approximately $10,571,166.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 37,594 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $237.95, for a total transaction of $8,945,492.30. Following the sale, the chief executive officer now owns 44,426 shares in the company, valued at approximately $10,571,166.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donald Weinstein sold 10,150 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $250.00, for a total value of $2,537,500.00. Following the transaction, the vice president now directly owns 41,035 shares of the company’s stock, valued at $10,258,750. The disclosure for this sale can be found here. Insiders have sold 107,349 shares of company stock worth $25,576,129 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Automatic Data Processing Profile

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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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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