Commonwealth Financial Services LLC Sells 99 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Commonwealth Financial Services LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,141 shares of the business services provider’s stock after selling 99 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Automatic Data Processing were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $27,000. Keener Financial Planning LLC raised its position 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 worth $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing in the first quarter worth about $33,000. Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing in the first quarter valued at about $36,000. Finally, Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADP shares. JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group upped their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $265.36.

Insiders Place Their Bets

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, 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 sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. 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 insiders.

Automatic Data Processing Trading Down 0.5 %

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

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

Automatic Data Processing Announces Dividend

The firm also recently disclosed 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. This represents a $5.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 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.