Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,442 shares of the business services provider's stock after selling 3,117 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.06% of Automatic Data Processing worth $69,857,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing during the second quarter worth $27,000. Hexagon Capital Partners LLC boosted its position in 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 in the third quarter valued at about $35,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing in the first quarter worth about $36,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $0.01 during trading on Friday, hitting $306.93. 805,046 shares of the company's stock were exchanged, compared to its average volume of 1,632,589. The business has a 50-day simple moving average of $292.45 and a 200-day simple moving average of $267.99. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $125.06 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 3.57 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results 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 return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date 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 dividend yield of 2.01%. Automatic Data Processing's payout ratio is 65.74%.

Insiders Place Their Bets

In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company's stock, valued at approximately $11,440,548.48. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value 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 $25,464,384.66. This trade represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,504 shares of company stock worth $20,298,056. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted 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 note on Tuesday, August 20th. Jefferies Financial Group upped 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. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 31st. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Two research 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 company currently has a consensus rating of "Hold" and an average price target of $289.91.

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.