Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,171 shares of the business services provider’s stock after selling 1,031 shares during the quarter. Bar Harbor Wealth Management’s holdings in Automatic Data Processing were worth $13,054,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. BlueSpruce Investments LP acquired a new position in Automatic Data Processing in the 1st quarter worth approximately $365,757,000. Nordea Investment Management AB raised its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after buying an additional 552,096 shares during the period. Mackenzie Financial Corp boosted its stake 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 buying an additional 456,027 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 value of $2,479,748.35. Following the completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by insiders.

Automatic Data Processing Trading Up 0.4 %

Shares of ADP opened at $291.96 on Friday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $276.03 and a 200-day simple moving average of $256.51. The stock has a market cap of $119.50 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. Bank of America boosted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $267.83.

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.