Automatic Data Processing, Inc. (NASDAQ:ADP) Position Trimmed by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,343 shares of the business services provider’s stock after selling 53 shares during the quarter. Automatic Data Processing accounts for 1.2% of Horan Capital Advisors LLC.’s portfolio, making the stock its 26th largest position. Horan Capital Advisors LLC.’s holdings in Automatic Data Processing were worth $3,424,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Trium Capital LLP acquired a new stake in shares of Automatic Data Processing during the 2nd quarter valued at about $1,672,000. Oak Thistle LLC lifted its stake in shares of Automatic Data Processing by 336.6% in the 2nd quarter. Oak Thistle LLC now owns 4,934 shares of the business services provider’s stock valued at $1,178,000 after purchasing an additional 3,804 shares during the last quarter. Mount Lucas Management LP acquired a new stake in Automatic Data Processing in the 2nd quarter worth approximately $320,000. Prestige Wealth Management Group LLC boosted its position in Automatic Data Processing by 1.2% during the second quarter. Prestige Wealth Management Group LLC now owns 5,646 shares of the business services provider’s stock worth $1,356,000 after purchasing an additional 65 shares during the period. Finally, Ballentine Partners LLC boosted its position in Automatic Data Processing by 0.4% during the second quarter. Ballentine Partners LLC now owns 20,821 shares of the business services provider’s stock worth $4,970,000 after purchasing an additional 77 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ADP shares. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Barclays increased their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $265.36.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at $2,816,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at $2,816,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,614 shares of company stock worth $13,519,460. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $269.56 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $256.39 and a two-hundred day moving average price of $249.68. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $278.24. The firm has a market capitalization of $109.93 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.93 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the company posted $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s payout ratio is presently 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.