Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,337 shares of the business services provider’s stock after selling 108 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Automatic Data Processing were worth $1,751,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the second quarter worth about $27,000. Keener Financial Planning LLC lifted its holdings in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the 1st quarter worth $36,000. Finally, New Millennium Group LLC bought a new position in Automatic Data Processing during the 2nd quarter worth $40,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $276.41 on Monday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The firm has a market cap of $113.13 billion, a P/E ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79. The stock has a fifty day moving average price of $264.76 and a two-hundred day moving average price of $251.61. 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 (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the business posted $1.89 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the 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 completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 approximately $9,899,862.45. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, 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 have sold 58,817 shares of company stock worth $15,999,208 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays raised their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $265.36.

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.