Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Northstar Group Inc.

Northstar Group Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,599 shares of the business services provider’s stock after selling 342 shares during the quarter. Northstar Group Inc.’s holdings in Automatic Data Processing were worth $4,317,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. TD Asset Management Inc increased its position in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Automatic Data Processing by 70.7% in 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 buying an additional 264,466 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in 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% in 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. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.2 %

Shares of Automatic Data Processing stock traded down $0.49 on Thursday, hitting $287.28. 31,039 shares of the company traded hands, compared to its average volume of 1,632,417. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $288.30. The company has a 50-day moving average price of $272.54 and a 200 day moving average price of $254.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market cap of $117.58 billion, a PE ratio of 32.12, a PEG 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 for the quarter, topping analysts’ consensus estimates 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 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 firm earned $1.89 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date 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 payout ratio is presently 62.50%.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of research reports. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Barclays boosted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Finally, Jefferies Financial Group boosted 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 assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $267.83.

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.