Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by CI Investments Inc.

CI Investments Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 23.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,147 shares of the business services provider’s stock after selling 2,534 shares during the quarter. CI Investments Inc.’s holdings in Automatic Data Processing were worth $1,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Great Lakes Advisors LLC raised its stake in Automatic Data Processing by 40.3% during the 4th quarter. Great Lakes Advisors LLC now owns 37,588 shares of the business services provider’s stock valued at $9,269,000 after acquiring an additional 10,788 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Automatic Data Processing by 3.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 4,045 shares of the business services provider’s stock valued at $997,000 after acquiring an additional 118 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $414,000. FRG Family Wealth Advisors LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $7,356,000. Finally, GHE LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $3,512,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Insider Activity

In other news, VP Augusto J. Blanchard sold 567 shares of Automatic Data Processing stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total transaction of $119,432.88. Following the transaction, the vice president now owns 4,238 shares in the company, valued at $892,692.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the transaction, the vice president now owns 4,238 shares in the company, valued at $892,692.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald Weinstein sold 10,150 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $250.00, for a total value of $2,537,500.00. Following the completion of the transaction, the vice president now owns 41,035 shares in the company, valued at approximately $10,258,750. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on ADP shares. Cowen lifted their target price on Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. Mizuho lifted their target price on Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Morgan Stanley boosted their price objective on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Barclays boosted their price objective on Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Finally, Wolfe Research dropped their price objective on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $235.92.

Automatic Data Processing Stock Down 3.0 %

Shares of Automatic Data Processing stock opened at $238.48 on Friday. The stock’s fifty day moving average is $233.31 and its 200-day moving average is $221.90. The firm has a market capitalization of $99.09 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. Automatic Data Processing, Inc. has a 12-month low of $192.26 and a 12-month high of $261.59.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. Automatic Data Processing’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Equities analysts anticipate that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, September 8th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.74%. Automatic Data Processing’s dividend payout ratio is 59.34%.

Automatic Data Processing Profile

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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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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