Automatic Data Processing, Inc. (NASDAQ:ADP) Position Cut by Delta Financial Advisors LLC

Delta Financial Advisors LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,763 shares of the business services provider’s stock after selling 128 shares during the period. Automatic Data Processing makes up 1.4% of Delta Financial Advisors LLC’s holdings, making the stock its 19th largest position. Delta Financial Advisors LLC’s holdings in Automatic Data Processing were worth $3,524,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its holdings in shares of Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after acquiring an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the period. Cornerstone Wealth Group LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth $2,924,000. Finally, LVW Advisors LLC lifted its holdings in shares of Automatic Data Processing by 23.8% in the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after buying an additional 740 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. 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 stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at $11,440,548.48. The disclosure for this sale can be found here. Insiders have sold 49,614 shares of company stock worth $13,519,460 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $269.56 on Friday. The company has a market cap of $110.33 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $278.24. 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 company’s fifty day moving average is $256.39 and its two-hundred day moving average is $249.71.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Stifel Nicolaus increased 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 note on Thursday, August 1st. Bank of America lifted their price target on shares of 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, Barclays increased their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $265.36.

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.