Bontempo Ohly Capital Mgmt LLC Sells 700 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Bontempo Ohly Capital Mgmt LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,402 shares of the business services provider’s stock after selling 700 shares during the period. Bontempo Ohly Capital Mgmt LLC’s holdings in Automatic Data Processing were worth $335,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADP. TD Asset Management Inc grew its position in shares of Automatic Data Processing by 14.2% during the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after buying an additional 99,515 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Automatic Data Processing by 70.7% during the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after purchasing an additional 264,466 shares during the period. SG Americas Securities LLC increased its stake in shares of Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $2,924,000. Finally, LVW Advisors LLC boosted its stake in Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after acquiring an additional 740 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ADP shares. Bank of America upped their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays increased their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $267.83.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the business’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 transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, 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 have sold a total of 58,817 shares of company stock worth $15,999,208 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $272.88 on Friday. The firm has a market cap of $111.69 billion, a PE ratio of 30.46, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The company’s fifty day simple moving average is $267.65 and its 200-day simple moving average is $252.66. 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 (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during 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 company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared 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. This represents a $5.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) 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.