Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lessened by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,820 shares of the business services provider’s stock after selling 295 shares during the period. O Brien Greene & Co. Inc’s holdings in Automatic Data Processing were worth $4,655,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter worth approximately $27,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC grew its position in 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 worth $32,000 after buying an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the third quarter valued at $35,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $289.91.

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $304.56 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.63. The stock’s 50-day moving average is $295.31 and its two-hundred day moving average is $270.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $124.10 billion, a P/E ratio of 32.50, a PEG ratio of 3.54 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is 59.77%.

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.