Olistico Wealth LLC Trims Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Olistico Wealth LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271 shares of the business services provider’s stock after selling 65 shares during the period. Olistico Wealth LLC’s holdings in Automatic Data Processing were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC raised its stake 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 valued at $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $36,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $39,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADP shares. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Barclays upped their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Trading Up 1.2 %

NASDAQ ADP opened at $285.42 on Wednesday. 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 52 week low of $205.53 and a 52 week high of $286.30. The stock has a market capitalization of $116.82 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The firm has a 50 day moving average of $271.48 and a two-hundred day moving average of $254.30.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 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.