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

Lmcg Investments LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,766 shares of the business services provider’s stock after selling 100 shares during the quarter. Lmcg Investments LLC’s holdings in Automatic Data Processing were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Schmidt P J Investment Management Inc. lifted its stake in Automatic Data Processing by 0.4% during the second 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 last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after buying an additional 41 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Automatic Data Processing by 0.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after acquiring an additional 43 shares during the last quarter. Patron Partners LLC boosted its stake in shares of Automatic Data Processing by 1.6% during the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Automatic Data Processing by 0.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,432 shares of the business services provider’s stock worth $1,297,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3 %

Shares of NASDAQ:ADP opened at $279.41 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $114.36 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The firm has a fifty day moving average of $262.31 and a two-hundred day moving average of $250.94.

Automatic Data Processing (NASDAQ:ADP) last released 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 return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS 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 issued a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several brokerages have recently commented on ADP. Jefferies Financial Group upped their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus increased their target price 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, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $265.36.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

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.