Blueshift Asset Management LLC Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Blueshift Asset Management LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 78.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,399 shares of the business services provider's stock after selling 5,103 shares during the quarter. Blueshift Asset Management LLC's holdings in Automatic Data Processing were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at $35,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter valued at $36,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter valued at $40,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company's stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company's 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 transaction, the director now owns 36,741 shares of the company's stock, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,504 shares of company stock worth $20,298,056 in the last 90 days. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ADP shares. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a report on Tuesday, August 20th. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $289.91.

Automatic Data Processing Stock Up 0.0 %

Shares of ADP traded up $0.01 on Friday, reaching $306.93. The company's stock had a trading volume of 805,046 shares, compared to its average volume of 1,632,589. The company has a current ratio of 1.01, a quick 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 $309.63. The stock has a market capitalization of $125.06 billion, a PE ratio of 32.79, a PEG ratio of 3.57 and a beta of 0.79. The firm has a fifty day moving average of $291.84 and a 200-day moving average of $267.58.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the firm earned $2.08 EPS. Automatic Data Processing's revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio (DPR) is presently 59.77%.

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.