Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 39.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,640 shares of the business services provider's stock after selling 49,310 shares during the quarter. Rockland Trust Co.'s holdings in Automatic Data Processing were worth $20,932,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Moors & Cabot Inc. grew its position in shares of Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock valued at $1,360,000 after purchasing an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. grew its holdings in Automatic Data Processing by 0.4% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider's stock valued at $2,302,000 after buying an additional 40 shares during the last quarter. Confluence Wealth Services Inc. increased its position in Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider's stock worth $206,000 after buying an additional 41 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in Automatic Data Processing by 0.8% during the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider's stock worth $1,402,000 after buying an additional 43 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in shares of Automatic Data Processing by 1.3% in the second quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider's stock valued at $828,000 after acquiring an additional 43 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.2 %

ADP traded up $0.54 on Friday, reaching $285.16. 1,076,681 shares of the company's stock were exchanged, compared to its average volume of 1,646,095. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $286.30. The company's 50 day moving average is $270.94 and its 200-day moving average is $253.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $116.71 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released 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. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.96%. Automatic Data Processing's dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADP. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted 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, Royal Bank of Canada restated a "sector perform" rating and set a $267.00 price objective on shares of Automatic Data Processing in a 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 issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $267.83.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company's stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 directly owns 10,410 shares of the company's stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company's stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by company insiders.

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.