Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,120 shares of the business services provider’s stock after selling 143 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Automatic Data Processing were worth $311,000 at the end of the most recent reporting period.

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

Insider Transactions at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.9 %

Shares of ADP stock traded up $2.48 during mid-day trading on Monday, reaching $290.66. 305,903 shares of the company were exchanged, compared to its average volume of 1,630,922. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day simple moving average is $281.57 and its 200 day simple moving average is $260.13. Automatic Data Processing, Inc. has a fifty-two week low of $218.63 and a fifty-two week high of $294.18. The company has a market capitalization of $118.54 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.32 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the firm earned $2.08 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts predict that Automatic Data Processing, Inc. will post 9.97 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.93%. Automatic Data Processing’s payout ratio is 59.77%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup raised their target price 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. Finally, Barclays boosted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $289.91.

About Automatic Data Processing

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.