Sora Investors LLC Has $6.58 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sora Investors LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 68.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,780 shares of the business services provider's stock after selling 51,220 shares during the quarter. Sora Investors LLC's holdings in Automatic Data Processing were worth $6,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the 3rd quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter worth $27,000. Hexagon Capital Partners LLC lifted its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock worth $32,000 after buying an additional 51 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. Finally, New Millennium Group LLC acquired a new stake in Automatic Data Processing during the second quarter worth about $40,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADP shares. Mizuho increased their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Jefferies Financial Group boosted 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. Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada boosted their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the company's 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 directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Up 1.0 %

ADP stock traded up $3.00 during midday trading on Friday, reaching $304.80. The company's stock had a trading volume of 542,184 shares, compared to its average volume of 1,633,572. The business's 50-day simple moving average is $294.67 and its 200-day simple moving average is $269.52. 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, Inc. has a 52 week low of $227.12 and a 52 week high of $309.63. The stock has a market cap of $124.19 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 3.53 and a beta of 0.79.

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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the company earned $2.08 earnings per share. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed 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. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing's dividend payout ratio is presently 59.77%.

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.