Smith Moore & CO. Sells 125 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Smith Moore & CO. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% in the second quarter, Holdings Channel reports. The fund owned 4,386 shares of the business services provider’s stock after selling 125 shares during the quarter. Smith Moore & CO.’s holdings in Automatic Data Processing were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Paragon Wealth Strategies LLC acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $26,000. Lake Point Wealth Management acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $27,000. Disciplined Investments LLC acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $31,000. Annapolis Financial Services LLC raised its position in shares of Automatic Data Processing by 232.0% during the second quarter. Annapolis Financial Services LLC now owns 166 shares of the business services provider’s stock valued at $33,000 after buying an additional 116 shares during the last quarter. Finally, Newton One Investments LLC acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $42,000. 78.39% of the stock is owned by institutional investors and hedge funds.

Shares of ADP stock opened at $199.74 on Wednesday. Automatic Data Processing, Inc. has a 52-week low of $127.31 and a 52-week high of $217.15. The stock has a market cap of $84.51 billion, a PE ratio of 32.91, a PEG ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day moving average price is $207.88 and its two-hundred day moving average price is $197.53.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Automatic Data Processing had a net margin of 17.32% and a return on equity of 44.73%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the firm earned $1.14 earnings per share. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 6.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be given a dividend of $0.93 per share. The ex-dividend date is Thursday, September 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.86%. Automatic Data Processing’s dividend payout ratio is 61.79%.

In related news, VP Alexander Quevedo sold 950 shares of the firm’s stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $209.25, for a total transaction of $198,787.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Deborah L. Dyson sold 2,428 shares of Automatic Data Processing stock in a transaction on Friday, July 9th. The shares were sold at an average price of $202.00, for a total transaction of $490,456.00. Following the completion of the sale, the vice president now owns 26,614 shares in the company, valued at $5,376,028. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Automatic Data Processing from $192.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. JPMorgan Chase & Co. lowered shares of Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 price objective for the company. in a report on Tuesday, August 17th. They noted that the move was a valuation call. Credit Suisse Group lowered shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 price objective for the company. in a report on Monday, August 16th. They noted that the move was a valuation call. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $212.00 to $227.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $196.79.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

Featured Article: Capital gains and your 401(k) or IRA

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.