Sky Investment Group LLC Has $6.41 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sky Investment Group LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,148 shares of the business services provider’s stock after selling 445 shares during the quarter. Sky Investment Group LLC’s holdings in Automatic Data Processing were worth $6,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC boosted its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth about $36,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the firm’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 $872,254.02. Following the sale, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the company’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 transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ADP shares. Barclays upped their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Citigroup upped their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $1.60 during midday trading on Tuesday, hitting $289.31. The stock had a trading volume of 127,109 shares, compared to its average volume of 1,625,940. 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 company has a market capitalization of $118.41 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company’s 50-day moving average price is $277.27 and its 200-day moving average price is $257.33. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company earned $1.89 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.