Cox Capital Mgt LLC Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cox Capital Mgt LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,948 shares of the business services provider’s stock after selling 82 shares during the quarter. Automatic Data Processing accounts for approximately 1.8% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 24th biggest position. Cox Capital Mgt LLC’s holdings in Automatic Data Processing were worth $3,030,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADP. Perfromance Wealth Partners LLC lifted its holdings in Automatic Data Processing by 6.8% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 1,817 shares of the business services provider’s stock worth $503,000 after buying an additional 116 shares in the last quarter. First Affirmative Financial Network increased its holdings in Automatic Data Processing by 77.7% during the 3rd quarter. First Affirmative Financial Network now owns 5,083 shares of the business services provider’s stock worth $1,407,000 after purchasing an additional 2,223 shares during the period. Fiduciary Financial Group LLC raised its holdings in 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 holdings 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 valued at $846,000 after acquiring an additional 2,326 shares in the last quarter. Finally, Nvest Financial LLC lifted its stake in Automatic Data Processing by 51.5% in the third quarter. Nvest Financial LLC now owns 3,137 shares of the business services provider’s stock worth $868,000 after acquiring an additional 1,066 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $1.45 during trading on Friday, reaching $288.36. The company’s stock had a trading volume of 952,208 shares, compared to its average volume of 1,633,195. The business’s fifty day moving average price is $273.55 and its 200-day moving average price is $255.33. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $288.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap 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 issued its quarterly earnings results 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. During the same quarter in the previous year, the firm posted $1.89 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. Automatic Data Processing’s payout ratio is currently 61.47%.

Analyst Ratings Changes

A number of brokerages recently commented on ADP. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Bank of America raised their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $267.83.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through 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 sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. Company 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.