Troy Asset Management Ltd Sells 57,214 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Troy Asset Management Ltd decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 256,912 shares of the business services provider’s stock after selling 57,214 shares during the period. Automatic Data Processing comprises approximately 2.0% of Troy Asset Management Ltd’s holdings, making the stock its 15th largest holding. Troy Asset Management Ltd owned 0.06% of Automatic Data Processing worth $61,322,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $27,000. Keener Financial Planning LLC increased its holdings in 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 valued at $28,000 after buying an additional 76 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the first quarter valued at about $36,000. Finally, New Millennium Group LLC acquired a new position in Automatic Data Processing in the second quarter worth about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’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 of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 in the last quarter. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $276.73 on Tuesday. 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 firm has a 50 day simple moving average of $268.23 and a 200 day simple moving average of $252.95. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The firm has a market cap 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 (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS 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 company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm earned $1.89 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent research reports. Stifel Nicolaus increased 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. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Barclays upped their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $267.83.

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.