Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Reduced by William Allan Corp

William Allan Corp reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,111 shares of the business services provider’s stock after selling 172 shares during the quarter. Automatic Data Processing makes up about 3.5% of William Allan Corp’s holdings, making the stock its 8th largest position. William Allan Corp’s holdings in Automatic Data Processing were worth $5,842,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADP. Accredited Investors Inc. boosted its holdings in Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares during the last quarter. Mackenzie Financial Corp increased its position 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 valued at $153,749,000 after acquiring an additional 456,027 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Automatic Data Processing by 12.0% in 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 owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.3 %

NASDAQ ADP opened at $306.92 on Friday. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.63. The company has a market cap of $125.06 billion, a P/E ratio of 32.76, a P/E/G ratio of 3.57 and a beta of 0.79. The business has a fifty day moving average price of $291.84 and a 200 day moving average price of $267.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared 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 an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s payout ratio is 59.77%.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,504 shares of company stock valued at $20,298,056 in the last three months. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays upped 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 report on Monday, November 4th. Stifel Nicolaus boosted their price objective 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup boosted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, UBS Group boosted 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 report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $289.91.

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.