Strategy Asset Managers LLC Sells 2,265 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Strategy Asset Managers LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 46.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,635 shares of the business services provider's stock after selling 2,265 shares during the quarter. Strategy Asset Managers LLC's holdings in Automatic Data Processing were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter worth approximately $27,000. Hexagon Capital Partners LLC boosted its holdings in 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 valued at $32,000 after purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $298.59 on Thursday. The firm has a market cap of $121.66 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $288.47 and a 200 day simple moving average of $265.16.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced 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. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 earnings per share. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal 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 given a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio (DPR) is currently 59.77%.

Wall Street Analyst Weigh In

ADP has been the topic of several research analyst reports. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Bank of America raised their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company's stock, valued at approximately $2,816,946. This trade represents a 7.52 % 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 link. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is owned by corporate 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.