International Private Wealth Advisors LLC Sells 98 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

International Private Wealth Advisors LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,082 shares of the business services provider’s stock after selling 98 shares during the period. International Private Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $299,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the 2nd quarter worth about $27,000. Hexagon Capital Partners LLC grew its stake in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Crewe Advisors LLC bought a new position in Automatic Data Processing during the first quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP traded down $3.08 during trading hours on Thursday, reaching $304.42. 125,712 shares of the stock traded hands, compared to its average volume of 1,627,797. The company has a market cap of $124.04 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $286.03 and its two-hundred day moving average price is $263.23. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In related news, 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 in the company, valued at approximately $9,781,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 sale, the director now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the 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 transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. 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 97,792 shares of company stock worth $27,691,708 over the last quarter. Insiders own 0.21% of the company’s stock.

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.