Moreno Evelyn V Cuts Stake in Automatic Data Processing (NASDAQ:ADP)

Moreno Evelyn V lowered its position in Automatic Data Processing (NASDAQ:ADP) by 25.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,318 shares of the business services provider’s stock after selling 1,835 shares during the quarter. Moreno Evelyn V’s holdings in Automatic Data Processing were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Enterprise Financial Services Corp raised its holdings in shares of Automatic Data Processing by 2.0% during the first quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock valued at $514,000 after acquiring an additional 64 shares in the last quarter. Berman Capital Advisors LLC raised its holdings in shares of Automatic Data Processing by 2.5% during the first quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock valued at $443,000 after acquiring an additional 67 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Automatic Data Processing by 34.6% during the first quarter. Ellevest Inc. now owns 276 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 71 shares in the last quarter. CX Institutional raised its holdings in shares of Automatic Data Processing by 3.0% during the second quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after acquiring an additional 73 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Automatic Data Processing by 3.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 2,719 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 78 shares in the last quarter. 80.23% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ADP traded up $1.53 during trading on Thursday, reaching $165.37. The company had a trading volume of 30,972 shares, compared to its average volume of 2,128,594. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $172.00. The stock has a market cap of $71.98 billion, a PE ratio of 30.36, a PEG ratio of 2.07 and a beta of 0.91. The business’s 50-day moving average is $165.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05.



Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that Automatic Data Processing will post 6.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.91%. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

In related news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the sale, the vice president now directly owns 14,896 shares of the company’s stock, valued at $2,413,747.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

A number of equities analysts have issued reports on ADP shares. Sanford C. Bernstein downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Robert W. Baird increased their price objective on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Citigroup increased their price objective on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Barclays increased their price objective on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, ValuEngine downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $174.10.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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