Personal Capital Advisors Corp Sells 8,428 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Personal Capital Advisors Corp trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,132 shares of the business services provider’s stock after selling 8,428 shares during the quarter. Personal Capital Advisors Corp’s holdings in Automatic Data Processing were worth $12,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Confluence Wealth Services Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $438,000. Rhumbline Advisers raised its holdings in shares of Automatic Data Processing by 1.4% in the fourth quarter. Rhumbline Advisers now owns 765,855 shares of the business services provider’s stock valued at $188,845,000 after acquiring an additional 10,824 shares in the last quarter. Exencial Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $657,000. Covestor Ltd bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $86,000. Finally, Guardian Capital LP raised its holdings in shares of Automatic Data Processing by 7.7% in the fourth quarter. Guardian Capital LP now owns 16,700 shares of the business services provider’s stock valued at $4,118,000 after acquiring an additional 1,200 shares in the last quarter. 79.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 174 shares of Automatic Data Processing stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $236.69, for a total transaction of $41,184.06. Following the completion of the sale, the vice president now owns 3,157 shares of the company’s stock, valued at $747,230.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Christopher D’ambrosio sold 174 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $41,184.06. Following the completion of the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at $747,230.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 58,864 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $13,932,520.16. Following the completion of the transaction, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The disclosure for this sale can be found here. Insiders sold 69,755 shares of company stock valued at $16,630,637 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADP. 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. Barclays lifted their target price on Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Wolfe Research cut their target price on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Morgan Stanley lifted their target price on Automatic Data Processing from $235.00 to $245.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Cowen lifted their target price on Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $235.92.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $244.30 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $192.26 and a fifty-two week high of $261.59. The firm has a market capitalization of $101.51 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $237.15 and its 200-day simple moving average is $224.02.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio (DPR) is 59.34%.

About Automatic Data Processing

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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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