Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Suncoast Equity Management

Suncoast Equity Management trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,049 shares of the business services provider’s stock after selling 5,639 shares during the period. Automatic Data Processing makes up approximately 3.2% of Suncoast Equity Management’s investment portfolio, making the stock its 16th largest holding. Suncoast Equity Management’s holdings in Automatic Data Processing were worth $27,687,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the second quarter worth approximately $27,000. Keener Financial Planning LLC raised its stake in shares of Automatic Data Processing by 230.3% in 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 in the last quarter. Hexagon Capital Partners LLC lifted 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 buying an additional 51 shares during the period. Crewe Advisors LLC bought a new position in Automatic Data Processing during the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the first quarter worth about $36,000. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADP shares. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Down 0.9 %

Shares of Automatic Data Processing stock traded down $2.76 during trading on Monday, hitting $289.53. 160,235 shares of the stock traded hands, compared to its average volume of 1,628,969. The stock has a market cap of $118.50 billion, a P/E ratio of 32.46, a PEG ratio of 3.13 and a beta of 0.79. The company has a fifty day moving average price of $276.64 and a two-hundred day moving average price of $256.99. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $294.18. 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 (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict 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 dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 92,807 shares in the company, valued at $25,464,384.66. 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 at the SEC website. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated 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 completion of the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was 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 have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.