Valeo Financial Advisors LLC Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Valeo Financial Advisors LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,486 shares of the business services provider’s stock after selling 477 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Automatic Data Processing were worth $2,072,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after buying an additional 173,298 shares during the last quarter. Wellington Management Group LLP boosted its position in Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after purchasing an additional 435,093 shares in the last quarter. Capital Research Global Investors boosted its position in Automatic Data Processing by 2.3% during the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after purchasing an additional 81,869 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after purchasing an additional 139,561 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Bank of America raised their target price 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. Jefferies Financial Group raised their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $267.83.

Insider Activity

In other news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing 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 sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. 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 ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock opened at $288.36 on Friday. The business has a fifty day moving average of $273.55 and a two-hundred day moving average of $255.40. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $118.02 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $288.50.

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

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s payout ratio is presently 62.50%.

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.