Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by UMB Bank n.a.

UMB Bank n.a. reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,277 shares of the business services provider’s stock after selling 717 shares during the period. UMB Bank n.a.’s holdings in Automatic Data Processing were worth $10,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Asset Management Inc increased its stake in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in 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 acquiring an additional 264,466 shares during the last quarter. SG Americas Securities LLC raised its position in Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the period. Cornerstone Wealth Group LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter worth $2,924,000. Finally, LVW Advisors LLC increased its position in shares of 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 purchasing an additional 740 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated 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 sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s 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 sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David Kwon sold 846 shares of Automatic Data Processing 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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. 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 three months. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ADP. Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Down 0.4 %

NASDAQ ADP traded down $1.09 on Thursday, hitting $286.68. 127,091 shares of the stock traded hands, compared to its average volume of 1,632,907. The company has a market capitalization of $117.34 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The stock has a 50-day moving average of $272.54 and a 200 day moving average of $254.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $288.30.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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