Smith Moore & CO. Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Smith Moore & CO. lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,386 shares of the business services provider’s stock after selling 125 shares during the period. Smith Moore & CO.’s holdings in Automatic Data Processing were worth $897,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in Automatic Data Processing by 21.6% in the first quarter. Los Angeles Capital Management LLC now owns 10,118 shares of the business services provider’s stock worth $1,907,000 after purchasing an additional 1,800 shares during the period. Unigestion Holding SA purchased a new stake in Automatic Data Processing in the first quarter worth $370,000. Avidian Wealth Solutions LLC increased its stake in Automatic Data Processing by 2.9% in the first quarter. Avidian Wealth Solutions LLC now owns 2,179 shares of the business services provider’s stock worth $411,000 after purchasing an additional 61 shares during the period. Bridges Investment Management Inc. boosted its position in Automatic Data Processing by 1.9% during the first quarter. Bridges Investment Management Inc. now owns 16,962 shares of the business services provider’s stock valued at $3,197,000 after purchasing an additional 324 shares in the last quarter. Finally, GSB Wealth Management LLC boosted its position in Automatic Data Processing by 236.7% during the first quarter. GSB Wealth Management LLC now owns 5,657 shares of the business services provider’s stock valued at $1,066,000 after purchasing an additional 3,977 shares in the last quarter. Institutional investors own 78.39% of the company’s stock.

In other news, VP Alexander Quevedo sold 950 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $209.25, for a total value of $198,787.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Deborah L. Dyson sold 2,428 shares of the business’s stock in a transaction on Friday, July 9th. The stock was sold at an average price of $202.00, for a total value of $490,456.00. Following the transaction, the vice president now directly owns 26,614 shares in the company, valued at approximately $5,376,028. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Automatic Data Processing from $200.00 to $215.00 and gave the company a “hold” rating in a research report on Wednesday, July 28th. JPMorgan Chase & Co. downgraded Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 price objective on the stock. in a research report on Tuesday, August 17th. They noted that the move was a valuation call. Citigroup downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating and raised their price objective for the company from $212.00 to $220.00 in a research report on Tuesday, August 10th. Mizuho raised their price objective on Automatic Data Processing from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Automatic Data Processing from $192.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, July 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $196.79.

Automatic Data Processing stock opened at $199.74 on Wednesday. The stock has a market capitalization of $84.51 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Automatic Data Processing, Inc. has a 12 month low of $127.31 and a 12 month high of $217.15. The business has a 50 day simple moving average of $207.88 and a 200-day simple moving average of $197.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.07 and a quick ratio of 1.07.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.06. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Automatic Data Processing had a return on equity of 44.73% and a net margin of 17.32%. During the same period in the previous year, the business earned $1.14 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 6.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 9th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.79%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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