Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,993 shares of the business services provider’s stock after selling 139 shares during the quarter. Edge Capital Group LLC’s holdings in Automatic Data Processing were worth $1,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Automatic Data Processing by 12.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the business services provider’s stock worth $516,000 after purchasing an additional 212 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Automatic Data Processing by 2.5% during the 2nd quarter. Fidelis Capital Partners LLC now owns 7,510 shares of the business services provider’s stock worth $1,944,000 after purchasing an additional 185 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Automatic Data Processing by 7.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 457,465 shares of the business services provider’s stock worth $109,192,000 after purchasing an additional 30,727 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Automatic Data Processing by 1.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock worth $9,713,000 after purchasing an additional 436 shares during the period. Finally, Frank Rimerman Advisors LLC grew its stake in shares of Automatic Data Processing by 33,319.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 7,018 shares of the business services provider’s stock worth $1,675,000 after purchasing an additional 6,997 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 other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing 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 completion of the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. 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 in the last three months. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $250.00 to $260.00 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 company a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Stock Down 0.5 %

Shares of ADP opened at $276.41 on Monday. The firm has a market cap of $113.13 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The company’s 50-day moving average price is $264.76 and its 200 day moving average price is $251.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) 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%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current 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 given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

About Automatic Data Processing

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.