Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,846 shares of the business services provider's stock after selling 2,797 shares during the quarter. Automatic Data Processing comprises 1.7% of KCM Investment Advisors LLC's holdings, making the stock its 9th largest position. KCM Investment Advisors LLC's holdings in Automatic Data Processing were worth $50,876,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Archer Investment Corp lifted its stake in Automatic Data Processing by 5.4% in the 3rd quarter. Archer Investment Corp now owns 973 shares of the business services provider's stock worth $269,000 after purchasing an additional 50 shares in the last quarter. Valley Wealth Managers Inc. increased its holdings in shares of Automatic Data Processing by 22.5% in the third quarter. Valley Wealth Managers Inc. now owns 1,563 shares of the business services provider's stock valued at $433,000 after purchasing an additional 287 shares during the last quarter. Empirical Finance LLC lifted its position in Automatic Data Processing by 1.9% during the third quarter. Empirical Finance LLC now owns 14,335 shares of the business services provider's stock worth $3,967,000 after buying an additional 274 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Automatic Data Processing by 16.5% in the 3rd quarter. CIBC Asset Management Inc now owns 153,147 shares of the business services provider's stock valued at $42,380,000 after buying an additional 21,663 shares in the last quarter. Finally, Balboa Wealth Partners acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $232,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 1.4 %

Automatic Data Processing stock traded down $4.35 during mid-day trading on Friday, reaching $297.64. 1,457,736 shares of the company's stock were exchanged, compared to its average volume of 1,633,247. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37. The company has a market cap of $121.28 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.58 and a beta of 0.79. The company has a fifty day moving average of $286.67 and a 200-day moving average of $263.50.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio is presently 59.77%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup increased their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Barclays upped their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Finally, TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $289.91.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated 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 owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Don Mcguire sold 3,179 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares of the company's stock, valued at approximately $11,440,548.48. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,792 shares of company stock valued at $27,691,708. Corporate insiders own 0.21% of the company's stock.

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.