Troy Asset Management Ltd Has $65.26 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Troy Asset Management Ltd lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,841 shares of the business services provider's stock after selling 21,071 shares during the period. Automatic Data Processing comprises approximately 2.1% of Troy Asset Management Ltd's holdings, making the stock its 15th largest position. Troy Asset Management Ltd owned about 0.06% of Automatic Data Processing worth $65,264,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ADP. Tower Wealth Partners Inc. boosted its holdings in shares of Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider's stock valued at $292,000 after acquiring an additional 35 shares in the last quarter. Petredis Investment Advisors LLC raised its holdings in Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock worth $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. lifted its position in 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 worth $1,360,000 after purchasing an additional 39 shares during the period. Austin Private Wealth LLC boosted its stake in Automatic Data Processing by 4.4% during the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider's stock valued at $255,000 after purchasing an additional 39 shares in the last quarter. Finally, Schmidt P J Investment Management Inc. increased its position in shares of 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 purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company's stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Down 0.0 %

Shares of Automatic Data Processing stock traded down $0.12 during midday trading on Friday, hitting $304.73. The company's stock had a trading volume of 1,552,646 shares, compared to its average volume of 1,607,719. The firm has a market capitalization of $124.17 billion, a P/E ratio of 32.52, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $225.38 and a 1-year high of $306.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $284.12 and a 200-day simple moving average of $261.93.

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 for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion for 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 business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.08 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. 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 dividend yield of 2.02%. Automatic Data Processing's dividend payout ratio is 59.77%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADP. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a report on Tuesday, August 20th. Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research note on Friday, November 1st. 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 report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $289.91.

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.