Hall Capital Management Co. Inc. Reduces Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hall Capital Management Co. Inc. lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,827 shares of the business services provider’s stock after selling 190 shares during the quarter. Automatic Data Processing makes up approximately 2.1% of Hall Capital Management Co. Inc.’s holdings, making the stock its 14th biggest position. Hall Capital Management Co. Inc.’s holdings in Automatic Data Processing were worth $4,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Keener Financial Planning LLC grew its position in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the first quarter valued at $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at $36,000. New Millennium Group LLC purchased a new stake in Automatic Data Processing in the 2nd quarter worth $40,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $39,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred 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 directly owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 1.2 %

Shares of NASDAQ ADP traded up $3.33 during midday trading on Tuesday, reaching $274.68. 1,260,004 shares of the company’s stock traded hands, compared to its average volume of 1,651,095. The company has a market cap of $112.42 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $275.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $251.01 and its 200-day simple moving average is $248.29.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the business posted $1.89 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.04%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ADP shares. Stifel Nicolaus upped their target price 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. TD Cowen reduced their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $265.36.

About Automatic Data Processing

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.