Measured Wealth Private Client Group LLC Lowers Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Measured Wealth Private Client Group LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,432 shares of the business services provider’s stock after selling 283 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Automatic Data Processing were worth $396,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. BlueSpruce Investments LP purchased a new position in Automatic Data Processing during the 1st quarter worth $365,757,000. International Assets Investment Management LLC grew its position in Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after purchasing an additional 1,190,407 shares during the last quarter. Nordea Investment Management AB grew its position in Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after acquiring an additional 456,027 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP opened at $292.78 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $119.83 billion, a P/E ratio of 32.68, a PEG ratio of 3.13 and a beta of 0.79. The company has a 50-day moving average of $280.80 and a two-hundred day moving average of $259.38. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.91%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 completion of the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $277.64.

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.