Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,182 shares of the business services provider’s stock after selling 145 shares during the period. Valmark Advisers Inc.’s holdings in Automatic Data Processing were worth $3,371,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter worth $27,000. Keener Financial Planning LLC lifted its stake in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the first quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, 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 value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 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 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, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADP shares. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Barclays increased their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup upped their price objective on 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. upped their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America lifted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $277.64.

Automatic Data Processing Stock Up 0.9 %

Shares of ADP traded up $2.51 during mid-day trading on Tuesday, hitting $288.95. 873,871 shares of the company’s stock were exchanged, compared to its average volume of 1,622,374. The stock has a market cap of $118.26 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $294.18. The firm has a fifty day moving average of $279.83 and a two-hundred day moving average of $258.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

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 firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.