Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lowered by Sunbelt Securities Inc.

Sunbelt Securities Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,037 shares of the business services provider’s stock after selling 43 shares during the period. Sunbelt Securities Inc.’s holdings in Automatic Data Processing were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC grew 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 in the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter worth $33,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the 1st quarter valued at $36,000. Finally, Pineridge Advisors LLC bought a new stake in Automatic Data Processing in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $267.83.

Insider Buying and Selling

In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred 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 owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 1.4 %

NASDAQ ADP opened at $276.73 on Tuesday. The stock has a market capitalization of $113.26 billion, a P/E ratio of 30.89, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $281.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $268.23 and a 200 day simple moving average of $252.95.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing Company 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.