Raub Brock Capital Management LP Sells 955 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Raub Brock Capital Management LP lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,692 shares of the business services provider’s stock after selling 955 shares during the quarter. Automatic Data Processing accounts for about 3.5% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 20th largest position. Raub Brock Capital Management LP’s holdings in Automatic Data Processing were worth $16,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Keener Financial Planning LLC grew its position in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter worth $33,000. Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at $36,000. Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $39,000. Finally, MFA Wealth Advisors LLC bought a new stake in Automatic Data Processing during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Bank of America increased their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $265.36.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the 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 completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David Kwon sold 846 shares of the company’s 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 $2,816,946. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,614 shares of company stock valued at $13,519,460. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Trading Down 0.2 %

Shares of Automatic Data Processing stock traded down $0.61 during trading on Friday, hitting $269.56. 2,814,514 shares of the company were exchanged, compared to its average volume of 1,648,719. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $110.33 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.79. The firm’s fifty day moving average price is $256.39 and its 200 day moving average price is $249.71. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $278.24.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.