Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,263 shares of the business services provider’s stock after selling 408 shares during the period. Automatic Data Processing comprises 1.3% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 26th largest holding. Benedict Financial Advisors Inc.’s holdings in Automatic Data Processing were worth $5,331,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC grew its holdings in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Barclays boosted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. 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 report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned 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 an average target price of $275.33.

Automatic Data Processing Trading Down 0.5 %

Shares of ADP stock traded down $1.47 on Friday, reaching $287.96. 1,691,504 shares of the stock were exchanged, compared to its average volume of 1,626,496. 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 has a market cap of $117.86 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The firm has a 50 day moving average of $279.40 and a two-hundred day moving average of $258.39. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS 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 company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the business posted $1.89 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.