Daymark Wealth Partners LLC Sells 240 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Daymark Wealth Partners LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,312 shares of the business services provider’s stock after selling 240 shares during the period. Daymark Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BOKF NA lifted its position in Automatic Data Processing by 1.8% during the 4th quarter. BOKF NA now owns 30,087 shares of the business services provider’s stock worth $7,009,000 after buying an additional 533 shares in the last quarter. Putnam Investments LLC raised its stake in shares of Automatic Data Processing by 13.4% during the 4th quarter. Putnam Investments LLC now owns 204,810 shares of the business services provider’s stock worth $47,715,000 after purchasing an additional 24,145 shares in the last quarter. Caxton Associates LP grew its stake in shares of Automatic Data Processing by 48.3% in the fourth quarter. Caxton Associates LP now owns 8,948 shares of the business services provider’s stock valued at $2,085,000 after buying an additional 2,916 shares in the last quarter. Mairs & Power Inc. increased its holdings in Automatic Data Processing by 3.2% during the fourth quarter. Mairs & Power Inc. now owns 86,231 shares of the business services provider’s stock worth $20,089,000 after buying an additional 2,670 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in Automatic Data Processing during the fourth quarter worth $1,590,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’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 owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP David Kwon sold 846 shares of the business’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 completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Stock Performance

Automatic Data Processing stock opened at $287.77 on Thursday. The business has a 50 day moving average of $272.03 and a 200-day moving average of $254.56. 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, Inc. has a 1 year low of $205.53 and a 1 year high of $288.30. The company has a market capitalization of $117.78 billion, a P/E ratio of 32.12, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations 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 revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADP. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. 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 note on Thursday, August 1st. Citigroup increased their price target on 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 lifted 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 report on Monday, August 5th. Finally, Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $267.83.

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.