Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Lessened by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 649,822 shares of the business services provider’s stock after selling 5,346 shares during the period. Automatic Data Processing makes up 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 19th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Automatic Data Processing were worth $188,078,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ADP. Claro Advisors LLC bought a new position in shares of Automatic Data Processing during the 1st quarter valued at about $211,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Automatic Data Processing by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,064,136 shares of the business services provider’s stock worth $265,757,000 after buying an additional 6,426 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Automatic Data Processing by 8.2% in the first quarter. Valeo Financial Advisors LLC now owns 7,884 shares of the business services provider’s stock worth $1,969,000 after buying an additional 598 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Automatic Data Processing by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 44,565 shares of the business services provider’s stock worth $11,129,000 after buying an additional 165 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Automatic Data Processing by 22.8% in the first quarter. First Trust Direct Indexing L.P. now owns 18,430 shares of the business services provider’s stock worth $4,603,000 after buying an additional 3,423 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented 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. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $277.64.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $2.21 during trading on Wednesday, reaching $290.16. The company’s stock had a trading volume of 197,651 shares, compared to its average volume of 1,624,082. The stock has a 50-day moving average price of $280.30 and a two-hundred day moving average price of $259.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. The stock has a market capitalization of $118.76 billion, a P/E ratio of 32.14, 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 results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company 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%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

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 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’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 completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Maria Black sold 19,147 shares of the 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 sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was 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 in the last ninety days. 0.26% of the stock is owned by insiders.

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.