Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 66.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,667 shares of the business services provider’s stock after selling 15,010 shares during the period. Simplicity Wealth LLC’s holdings in Automatic Data Processing were worth $2,122,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADP. Fiduciary Financial Group LLC boosted its holdings in shares of Automatic Data Processing by 4.8% in the third quarter. Fiduciary Financial Group LLC now owns 990 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 45 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Automatic Data Processing by 317.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,059 shares of the business services provider’s stock worth $846,000 after acquiring an additional 2,326 shares in the last quarter. Nvest Financial LLC lifted its holdings in Automatic Data Processing by 51.5% in the 3rd quarter. Nvest Financial LLC now owns 3,137 shares of the business services provider’s stock valued at $868,000 after acquiring an additional 1,066 shares during the last quarter. Fermata Advisors LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $210,000. Finally, New England Professional Planning Group Inc. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $231,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADP shares. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group boosted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Finally, Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $288.36 on Friday. The company’s fifty day moving average is $273.55 and its two-hundred day moving average is $255.33. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $288.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $117.60 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.89 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is 61.47%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s 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 completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the business’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 transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

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.