Quotient Wealth Partners LLC Reduces Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Quotient Wealth Partners LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,814 shares of the business services provider’s stock after selling 344 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Automatic Data Processing were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADP. BOKF NA raised its stake in shares of 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 grew 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 during the period. Caxton Associates LP increased its holdings in shares of Automatic Data Processing by 48.3% in the 4th quarter. Caxton Associates LP now owns 8,948 shares of the business services provider’s stock valued at $2,085,000 after purchasing an additional 2,916 shares in the last quarter. Mairs & Power Inc. boosted 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 in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Automatic Data Processing during the fourth quarter worth about $1,590,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, 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 transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.3 %

ADP stock traded down $0.91 during trading on Thursday, reaching $286.86. The stock had a trading volume of 229,501 shares, compared to its average volume of 1,633,180. The firm has a fifty day moving average price of $272.54 and a 200 day moving average price 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. The company has a market capitalization of $117.41 billion, a P/E ratio of 32.12, a PEG ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $288.30.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays lifted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America upped their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $267.83.

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.