Argent Capital Management LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Argent Capital Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 100,309 shares of the business services provider’s stock after selling 2,211 shares during the period. Argent Capital Management LLC’s holdings in Automatic Data Processing were worth $27,759,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter worth approximately $27,000. Keener Financial Planning LLC increased its holdings in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the first quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.2 %

Shares of Automatic Data Processing stock traded up $0.66 during trading hours on Thursday, hitting $290.70. 127,179 shares of the company’s stock traded hands, compared to its average volume of 1,620,674. 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, Inc. has a twelve month low of $205.53 and a twelve month high of $294.18. The stock has a 50 day simple moving average of $278.40 and a 200-day simple moving average of $257.89. The company has a market cap of $118.98 billion, a PE ratio of 32.38, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm earned $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share 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. Investors of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 in the last ninety days. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ADP. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Bank of America upped their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $275.33.

Automatic Data Processing Company 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.