Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,112 shares of the business services provider’s stock after selling 330 shares during the period. NorthRock Partners LLC’s holdings in Automatic Data Processing were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc raised its holdings in shares of Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after purchasing an additional 34,118 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Automatic Data Processing by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after purchasing an additional 4,253 shares during the last quarter. Finally, Plato Investment Management Ltd grew its holdings in shares of Automatic Data Processing by 23.8% during the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after buying an additional 5,114 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $305.18 on Thursday. The firm has a fifty day moving average of $282.92 and a 200-day moving average of $261.11. Automatic Data Processing, Inc. has a 52-week low of $219.21 and a 52-week high of $306.71. 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 firm has a market capitalization of $124.46 billion, a P/E ratio of 32.57, a PEG ratio of 3.35 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS 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. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.02%. Automatic Data Processing’s payout ratio is 59.77%.

Analysts Set New Price Targets

ADP has been the topic of a number of analyst reports. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $289.91.

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.