Mutual of America Capital Management LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,225 shares of the business services provider’s stock after selling 1,413 shares during the period. Mutual of America Capital Management LLC’s holdings in Automatic Data Processing were worth $13,899,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. RIA Advisory Group LLC acquired a new position in Automatic Data Processing in the third quarter valued at approximately $470,000. Natixis Advisors LLC increased its stake in Automatic Data Processing by 8.2% during the third quarter. Natixis Advisors LLC now owns 282,639 shares of the business services provider’s stock worth $78,215,000 after acquiring an additional 21,420 shares during the last quarter. Northcape Wealth Management LLC raised its position in Automatic Data Processing by 1.1% in the third quarter. Northcape Wealth Management LLC now owns 6,399 shares of the business services provider’s stock valued at $1,771,000 after purchasing an additional 72 shares during the period. First Long Island Investors LLC lifted its stake in shares of Automatic Data Processing by 1.5% in the 3rd quarter. First Long Island Investors LLC now owns 202,446 shares of the business services provider’s stock valued at $56,023,000 after purchasing an additional 3,028 shares during the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Automatic Data Processing by 5.4% during the 3rd quarter. Archer Investment Corp now owns 973 shares of the business services provider’s stock worth $269,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.
Automatic Data Processing Trading Down 1.4 %
ADP opened at $297.64 on Friday. The business has a fifty day moving average price of $287.23 and a 200 day moving average price of $264.02. 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, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. The stock has a market capitalization of $121.28 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79.
Automatic Data Processing Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.
Insider Transactions at Automatic Data Processing
In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,792 shares of company stock valued at $27,691,708. Insiders own 0.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada upped 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 report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. 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 stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $289.91.
Get Our Latest Report on Automatic Data Processing
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.
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