Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Lessened by Sachetta LLC

Sachetta LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,286 shares of the business services provider’s stock after selling 426 shares during the period. Sachetta LLC’s holdings in Automatic Data Processing were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ADP. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after buying an additional 173,298 shares in the last quarter. Wellington Management Group LLP raised its position in Automatic Data Processing by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after acquiring an additional 249,566 shares in the last quarter. Capital Research Global Investors lifted its holdings in Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after acquiring an additional 81,869 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Finally, Ninety One UK Ltd grew its stake in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock worth $610,182,000 after purchasing an additional 9,464 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 2.2 %

NASDAQ ADP opened at $275.59 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $278.24. The firm’s fifty day simple moving average is $257.18 and its 200-day simple moving average is $249.83. The company has a market capitalization of $112.39 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.93 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued 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 for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $265.36.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on 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 transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction on 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 directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

About Automatic Data Processing

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.