Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Reduced by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,773 shares of the business services provider’s stock after selling 145 shares during the quarter. First Horizon Advisors Inc.’s holdings in Automatic Data Processing were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ADP. Tower Wealth Partners Inc. grew its position in Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after acquiring an additional 35 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares in the last quarter. Petredis Investment Advisors LLC increased its position in Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after buying an additional 37 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after buying an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC lifted its position in shares of Automatic Data Processing by 4.4% in the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after buying an additional 39 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 23.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Up 0.4 %

Shares of ADP stock opened at $298.59 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $288.47 and a 200-day moving average of $265.16. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. The stock has a market cap of $121.66 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 3.46 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $1.54 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.06%. Automatic Data Processing’s payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing 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.