Schmidt P J Investment Management Inc. Sells 226 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Schmidt P J Investment Management Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,419 shares of the business services provider’s stock after selling 226 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nicholson Wealth Management Group LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $1,037,000. Mount Yale Investment Advisors LLC boosted its stake in Automatic Data Processing by 8.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 7,936 shares of the business services provider’s stock worth $2,196,000 after purchasing an additional 599 shares during the period. Mcdaniel Terry & Co. boosted its stake in Automatic Data Processing by 0.4% in the 3rd quarter. Mcdaniel Terry & Co. now owns 184,918 shares of the business services provider’s stock worth $51,172,000 after purchasing an additional 738 shares during the period. Bogart Wealth LLC boosted its stake in Automatic Data Processing by 0.6% in the 3rd quarter. Bogart Wealth LLC now owns 27,077 shares of the business services provider’s stock worth $7,493,000 after purchasing an additional 150 shares during the period. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $1,570,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $289.43 on Friday. The firm has a market cap of $118.46 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The firm’s fifty day moving average is $278.40 and its 200-day moving average is $257.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results 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 net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm earned $1.89 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ADP shares. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus increased their price target 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $275.33.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.