Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 42.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,666 shares of the business services provider's stock after selling 2,002 shares during the quarter. Loomis Sayles & Co. L P's holdings in Automatic Data Processing were worth $738,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing during the 2nd quarter worth about $27,000. Hexagon Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 78.5% during the third 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 in the last quarter. Capital Performance Advisors LLP purchased a new position in Automatic Data Processing during the third quarter valued at approximately $35,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing in the first quarter worth approximately $36,000. Finally, New Millennium Group LLC bought a new position in Automatic Data Processing in the second quarter worth approximately $40,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADP has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 20th. Barclays lifted 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. Finally, Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $289.91.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $306.92 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.63. The firm has a market capitalization of $125.06 billion, a PE ratio of 32.76, a P/E/G ratio of 3.55 and a beta of 0.79. The business's 50 day moving average price is $291.26 and its 200-day moving average price is $267.31.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

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

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company's stock, valued at approximately $25,464,384.66. This trade represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,504 shares of company stock worth $20,298,056 in the last ninety days. 0.21% of the stock is owned by insiders.

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.