International Private Wealth Advisors LLC Sells 98 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

International Private Wealth Advisors LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,082 shares of the business services provider’s stock after selling 98 shares during the period. International Private Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accredited Investors Inc. raised its position in shares of Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares in the last quarter. BlueSpruce Investments LP purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $365,757,000. International Assets Investment Management LLC boosted its position in shares of 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 valued at $3,305,780,000 after acquiring an additional 1,190,407 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Automatic Data Processing by 238.1% during the first 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 in the last quarter. Finally, Mackenzie Financial Corp increased its position 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 worth $153,749,000 after purchasing an additional 456,027 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 1.0 %

ADP traded down $3.08 during trading on Thursday, hitting $304.42. 125,712 shares of the stock traded hands, compared to its average volume of 1,627,797. The firm has a market capitalization of $124.04 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $286.03 and a 200 day moving average of $263.23.

Automatic Data Processing (NASDAQ:ADP) last posted its 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 net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the business posted $2.08 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. 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 can be accessed through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction 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 in the company, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock valued at $27,691,708 over the last quarter. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADP. 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 research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price 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. JPMorgan Chase & Co. raised their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus 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.