Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,443 shares of the business services provider’s stock after selling 5,117 shares during the quarter. Mizuho Securities USA LLC’s holdings in Automatic Data Processing were worth $7,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing in the first quarter valued at about $33,000. Delap Wealth Advisory LLC purchased a new stake in shares of Automatic Data Processing in the first quarter valued at about $204,000. CreativeOne Wealth LLC lifted its stake in shares of Automatic Data Processing by 2.7% during the first quarter. CreativeOne Wealth LLC now owns 5,340 shares of the business services provider’s stock valued at $1,334,000 after buying an additional 141 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of Automatic Data Processing by 6.4% during the first quarter. EP Wealth Advisors LLC now owns 15,457 shares of the business services provider’s stock valued at $3,860,000 after buying an additional 925 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Automatic Data Processing by 1.7% during the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after buying an additional 4,253 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped 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 upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price target on shares of 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value 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 trade represents a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 23.02 % decrease in their ownership of the stock. 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. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $298.59 on Thursday. The company has a fifty day simple moving average of $288.47 and a 200 day simple moving average of $265.16. The firm has a market cap of $121.66 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

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

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. 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%.

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.