Diversify Advisory Services LLC Has $2.41 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Diversify Advisory Services LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,278 shares of the business services provider’s stock after selling 1,554 shares during the period. Diversify Advisory Services LLC’s holdings in Automatic Data Processing were worth $2,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Petredis Investment Advisors LLC lifted its holdings in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after buying an additional 37 shares during the period. Moors & Cabot Inc. raised its position in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. lifted its stake in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after purchasing an additional 40 shares during the period. Trifecta Capital Advisors LLC boosted its position in shares of Automatic Data Processing by 22.1% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 40 shares in the last quarter. Finally, Confluence Wealth Services Inc. grew its stake in Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADP. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted 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 restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $277.64.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now directly 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. In the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

Automatic Data Processing Trading Up 0.5 %

ADP opened at $287.95 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The firm has a market capitalization of $117.86 billion, a PE ratio of 32.14, a P/E/G ratio of 3.13 and a beta of 0.79. 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 company’s 50-day moving average is $280.30 and its 200 day moving average is $259.15.

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

Automatic Data Processing Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

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.