SageView Advisory Group LLC Sells 1,069 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

SageView Advisory Group LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,049 shares of the business services provider’s stock after selling 1,069 shares during the period. SageView Advisory Group LLC’s holdings in Automatic Data Processing were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the third quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the second quarter worth approximately $27,000. Hexagon Capital Partners LLC grew 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 worth $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing during the 3rd quarter valued at $35,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at $40,000. 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 Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.9 %

Shares of NASDAQ:ADP opened at $304.56 on Friday. The company has a market cap of $124.10 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 3.53 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $295.31 and a 200 day moving average price of $270.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.02%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s payout ratio is presently 59.77%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Mizuho raised their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada increased their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. 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 company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus 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.