Linscomb Wealth Inc. Trims Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Linscomb Wealth Inc. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,616 shares of the business services provider’s stock after selling 44 shares during the period. Linscomb Wealth Inc.’s holdings in Automatic Data Processing were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Keener Financial Planning LLC increased its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the first quarter worth approximately $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the 1st quarter worth approximately $36,000. Pineridge Advisors LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at approximately $39,000. Finally, MFA Wealth Advisors LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’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 transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the 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 owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $277.48 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $279.58. The firm’s 50-day simple moving average is $258.85 and its 200-day simple moving average is $250.18. The firm has a market cap of $113.16 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

ADP has been the subject of several recent research reports. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays increased their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Bank of America boosted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $265.36.

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.