Delaney Dennis R Sells 132 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Delaney Dennis R lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,472 shares of the business services provider’s stock after selling 132 shares during the period. Automatic Data Processing accounts for approximately 3.8% of Delaney Dennis R’s investment portfolio, making the stock its 9th biggest position. Delaney Dennis R’s holdings in Automatic Data Processing were worth $7,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlueSpruce Investments LP acquired a new stake in shares of Automatic Data Processing in the first quarter valued at about $365,757,000. Norges Bank acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $308,321,000. Capital Research Global Investors lifted its stake in Automatic Data Processing by 22.5% in the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after purchasing an additional 649,791 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus boosted their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $265.36.

Insider Activity at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated 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 sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. 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 on 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 owns 88,426 shares in the company, valued at approximately $23,959,908.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last ninety days. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 1.3 %

Shares of ADP opened at $275.91 on Thursday. The company’s 50-day simple moving average is $263.15 and its 200-day simple moving average is $251.11. 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 1 year low of $205.53 and a 1 year high of $281.54. The stock has a market capitalization of $112.93 billion, a PE ratio of 30.79, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) 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 company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared 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 is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.