NBC Securities Inc. Sells 82 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

NBC Securities Inc. trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,736 shares of the business services provider’s stock after selling 82 shares during the quarter. NBC Securities Inc.’s holdings in Automatic Data Processing were worth $1,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moors & Cabot Inc. boosted its holdings in Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after acquiring an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after purchasing an additional 40 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after purchasing an additional 41 shares during the last quarter. Cypress Wealth Services LLC raised its stake in shares of Automatic Data Processing by 4.8% during the third quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock worth $248,000 after buying an additional 41 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its holdings in Automatic Data Processing by 1.3% in the second quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock valued at $828,000 after buying an additional 43 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares in the company, valued at $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 this link. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADP. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Stifel Nicolaus raised their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating 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 research note on Thursday, August 1st. Finally, Barclays lifted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the 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 0.3 %

Automatic Data Processing stock opened at $290.04 on Wednesday. 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 1-year low of $205.53 and a 1-year high of $294.18. The company has a fifty day simple moving average of $274.81 and a 200 day simple moving average of $256.02. The company has a market cap of $118.71 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results 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. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $1.89 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s payout ratio is 62.50%.

About Automatic Data Processing

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.