Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Lowered by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,707 shares of the business services provider’s stock after selling 37 shares during the period. Automatic Data Processing comprises about 3.6% of Rowlandmiller & PARTNERS.ADV’s holdings, making the stock its 5th largest position. Rowlandmiller & PARTNERS.ADV’s holdings in Automatic Data Processing were worth $17,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after acquiring an additional 435,093 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Automatic Data Processing by 2.3% during the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after acquiring an additional 81,869 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after acquiring an additional 139,561 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after acquiring an additional 589,831 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Don Mcguire sold 3,179 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Don Mcguire sold 3,179 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the 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 transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 over the last three months. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Trading Down 0.2 %

Automatic Data Processing stock opened at $289.43 on Friday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The stock has a market capitalization of $118.46 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The firm has a 50 day simple moving average of $278.40 and a 200-day simple moving average of $257.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

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.