Proficio Capital Partners LLC Has $722,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Proficio Capital Partners LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,608 shares of the business services provider’s stock after selling 1,098 shares during the quarter. Proficio Capital Partners LLC’s holdings in Automatic Data Processing were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is owned by insiders.

Automatic Data Processing Trading Down 0.0 %

Shares of ADP opened at $304.73 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $225.38 and a 12-month high of $306.92. The firm has a market capitalization of $124.17 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79. The stock’s fifty day simple moving average is $284.12 and its 200-day simple moving average is $261.82.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Bank of America boosted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $289.91.

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.