Lake Street Advisors Group LLC Sells 91 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Lake Street Advisors Group LLC cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,816 shares of the business services provider’s stock after selling 91 shares during the period. Lake Street Advisors Group LLC’s holdings in Automatic Data Processing were worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gryphon Financial Partners LLC boosted its stake in Automatic Data Processing by 105.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock worth $467,000 after purchasing an additional 1,034 shares during the period. Principal Securities Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $814,000. Kovitz Investment Group Partners LLC boosted its position in shares of Automatic Data Processing by 11.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 18,789 shares of the business services provider’s stock worth $4,377,000 after buying an additional 1,993 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Automatic Data Processing by 12.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 8,308 shares of the business services provider’s stock worth $1,936,000 after buying an additional 918 shares in the last quarter. Finally, Dana Investment Advisors Inc. raised its position in Automatic Data Processing by 25.7% in the 4th quarter. Dana Investment Advisors Inc. now owns 1,095 shares of the business services provider’s stock valued at $255,000 after buying an additional 224 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group upped their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $269.56 on Friday. 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 company has a market capitalization of $110.33 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.00 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $278.24. The stock has a 50 day moving average of $256.39 and a 200-day moving average of $249.73.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm earned $1.89 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The disclosure for this sale can be found here. Insiders have sold a total of 49,614 shares of company stock valued at $13,519,460 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

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.