Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,113 shares of the business services provider's stock after selling 3,614 shares during the quarter. Captrust Financial Advisors' holdings in Automatic Data Processing were worth $19,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. Icon Wealth Advisors LLC boosted its position in shares of Automatic Data Processing by 7.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 9,828 shares of the business services provider's stock valued at $2,720,000 after acquiring an additional 711 shares during the last quarter. Centric Wealth Management lifted its position in Automatic Data Processing by 1.1% during the third quarter. Centric Wealth Management now owns 10,872 shares of the business services provider's stock valued at $3,318,000 after purchasing an additional 117 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in Automatic Data Processing by 43.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 88,755 shares of the business services provider's stock valued at $24,561,000 after purchasing an additional 26,861 shares during the last quarter. Vinva Investment Management Ltd grew its stake in shares of Automatic Data Processing by 331.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 5,039 shares of the business services provider's stock worth $1,375,000 after buying an additional 3,872 shares in the last quarter. Finally, Financial Counselors Inc. raised its position in shares of Automatic Data Processing by 2.2% during the 3rd quarter. Financial Counselors Inc. now owns 12,285 shares of the business services provider's stock valued at $3,400,000 after buying an additional 264 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group lifted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Mizuho raised their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $289.91.

Automatic Data Processing Stock Up 0.0 %

Shares of ADP stock traded up $0.01 on Friday, hitting $306.93. The stock had a trading volume of 805,046 shares, compared to its average volume of 1,561,798. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.63. The business has a 50 day moving average price of $292.45 and a 200 day moving average price of $268.30. The company has a market cap of $125.06 billion, a PE ratio of 32.76, a P/E/G ratio of 3.57 and a beta of 0.79. 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date 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 59.77%.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, 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 three months, insiders sold 70,504 shares of company stock valued at $20,298,056. Corporate insiders own 0.21% of the company's stock.

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.