LaFleur & Godfrey LLC Sells 167 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

LaFleur & Godfrey LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,281 shares of the business services provider’s stock after selling 167 shares during the period. LaFleur & Godfrey LLC’s holdings in Automatic Data Processing were worth $3,952,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADP. SageView Advisory Group LLC boosted its stake in Automatic Data Processing by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 2,399 shares of the business services provider’s stock valued at $572,000 after purchasing an additional 1,402 shares during the period. Nomura Holdings Inc. acquired a new position in Automatic Data Processing in the 4th quarter worth about $1,933,000. CWM LLC raised its holdings in Automatic Data Processing by 1.9% in the 1st quarter. CWM LLC now owns 18,197 shares of the business services provider’s stock valued at $4,544,000 after buying an additional 334 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of Automatic Data Processing by 1.5% during the first quarter. NBC Securities Inc. now owns 4,684 shares of the business services provider’s stock worth $1,171,000 after purchasing an additional 69 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Automatic Data Processing by 19.9% in the first quarter. GAMMA Investing LLC now owns 2,922 shares of the business services provider’s stock valued at $730,000 after buying an additional 485 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing 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 directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly 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 can be accessed through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock traded up $0.03 during mid-day trading on Wednesday, hitting $290.07. The company had a trading volume of 272,127 shares, compared to its average volume of 1,622,566. The stock’s fifty day moving average price is $274.81 and its two-hundred day moving average price is $256.02. 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 12 month low of $205.53 and a 12 month high of $294.18. The firm has a market cap of $118.72 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 3.13 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 for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during 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 firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. Barclays increased their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Citigroup raised their price target 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $267.83.

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.