Norris Perne & French LLP MI Sells 85 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Norris Perne & French LLP MI reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 772 shares of the business services provider’s stock after selling 85 shares during the period. Norris Perne & French LLP MI’s holdings in Automatic Data Processing were worth $214,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TD Asset Management Inc lifted its stake in shares of Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after buying an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after buying an additional 264,466 shares in the last quarter. SG Americas Securities LLC raised its position in Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after buying an additional 34,118 shares during the last quarter. Toronto Dominion Bank lifted its stake in Automatic Data Processing by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after acquiring an additional 4,253 shares during the period. Finally, Plato Investment Management Ltd grew its stake in shares of Automatic Data Processing by 23.8% in the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after acquiring an additional 5,114 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 1.2 %

Automatic Data Processing stock opened at $289.24 on Friday. The business has a fifty day moving average price of $281.20 and a 200-day moving average price of $259.59. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The stock has a market capitalization of $117.96 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 3.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.98 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. Automatic Data Processing’s payout ratio is 59.77%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’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 completion of the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP David Kwon sold 846 shares of the business’s 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 sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 in the last ninety days. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADP shares. UBS Group boosted their target price 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. 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. Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $282.00.

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.