Raymond James Trust N.A. Sells 537 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Raymond James Trust N.A. decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,112 shares of the business services provider’s stock after selling 537 shares during the quarter. Raymond James Trust N.A.’s holdings in Automatic Data Processing were worth $6,949,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ADP. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its stake in 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 worth $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the first quarter valued at $33,000. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter valued at $35,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the first quarter valued at $36,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. 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 note on Monday, November 4th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Barclays increased their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 2.0 %

Automatic Data Processing stock opened at $304.69 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average price is $288.99 and its two-hundred day moving average price is $265.44. The firm has a market capitalization of $124.15 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37.

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

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,946 shares of company stock worth $27,462,781. Corporate insiders own 0.21% of the company’s stock.

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.