Ballentine Partners LLC Purchases 119 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ballentine Partners LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,940 shares of the business services provider’s stock after acquiring an additional 119 shares during the quarter. Ballentine Partners LLC’s holdings in Automatic Data Processing were worth $5,795,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Petredis Investment Advisors LLC increased its holdings in shares of Automatic Data Processing by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 37 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after buying an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its holdings in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after buying an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC grew its holdings in shares of Automatic Data Processing by 22.1% during the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock worth $61,000 after purchasing an additional 40 shares during the last quarter. Finally, Confluence Wealth Services Inc. grew its stake in Automatic Data Processing by 5.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after buying an additional 41 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated 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 sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ADP shares. JPMorgan Chase & Co. boosted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $275.33.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $289.43 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $278.40 and its two-hundred day moving average price is $257.89. The firm has a market capitalization of $118.46 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share 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 analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend 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 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.