Capital Investment Counsel Inc Sells 50 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Investment Counsel Inc reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,481 shares of the business services provider’s stock after selling 50 shares during the period. Capital Investment Counsel Inc’s holdings in Automatic Data Processing were worth $4,284,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC grew its holdings 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 buying an additional 76 shares in the last quarter. Hexagon Capital Partners LLC raised its position in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC bought a new position in Automatic Data Processing during the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $290.04 on Thursday. The business’s fifty day moving average is $278.40 and its 200 day moving average is $257.89. The firm has a market cap of $118.71 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. 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, UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $275.33.

Insider Activity

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. 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 accessible through the SEC website. In related news, CEO Maria Black sold 19,147 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 value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was 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 worth $15,999,208 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Company 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.