Cypress Capital Group Has $2.39 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cypress Capital Group reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,639 shares of the business services provider’s stock after selling 102 shares during the period. Cypress Capital Group’s holdings in Automatic Data Processing were worth $2,391,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its position in Automatic Data Processing by 78.5% during the 3rd 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 position in shares of Automatic Data Processing in the 3rd quarter valued at about $35,000. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing in the first quarter valued at approximately $36,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $298.59 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. The company has a market cap of $121.66 billion, a P/E ratio of 31.87, a P/E/G ratio of 3.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $288.47 and its 200 day simple moving average is $265.16.

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

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.06%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADP shares. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Bank of America lifted 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, Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 23.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock worth $27,691,708 over the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Company 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.