ST Germain D J Co. Inc. Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Markets Daily

ST Germain D J Co. Inc. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,642 shares of the business services provider’s stock after selling 809 shares during the period. ST Germain D J Co. Inc.’s holdings in Automatic Data Processing were worth $3,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $2,924,000. Finally, LVW Advisors LLC boosted its holdings in shares of Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.1 %

ADP stock traded up $0.33 during trading on Friday, reaching $292.29. The stock had a trading volume of 2,738,202 shares, compared to its average volume of 1,636,240. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $119.63 billion, a P/E ratio of 32.62, a PEG ratio of 3.13 and a beta of 0.79. The firm has a fifty day moving average price of $276.64 and a 200 day moving average price of $256.84.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its earnings results 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 the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Transactions at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated 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 directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADP shares. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup lifted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $267.83.

Check Out Our Latest Stock Report on Automatic Data Processing

About Automatic Data Processing

(Free Report)

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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