Mutual of America Capital Management LLC Sells 2,238 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mutual of America Capital Management LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,638 shares of the business services provider’s stock after selling 2,238 shares during the period. Mutual of America Capital Management LLC’s holdings in Automatic Data Processing were worth $12,325,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Automatic Data Processing by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after purchasing an additional 249,566 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Automatic Data Processing by 2.3% during the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after purchasing an additional 81,869 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Finally, Ninety One UK Ltd boosted its stake in shares of Automatic Data Processing by 0.4% during the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after purchasing an additional 9,464 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADP. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued 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. Barclays boosted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group raised 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $265.36.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at $2,816,946. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, 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. Insiders have sold 58,817 shares of company stock valued at $15,999,208 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Down 1.3 %

Shares of ADP stock opened at $275.91 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The firm has a fifty day moving average price of $263.15 and a 200-day moving average price of $251.11. The company has a market cap of $112.93 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Announces Dividend

The business 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. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.