S.A. Mason LLC Trims Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

S.A. Mason LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,328 shares of the business services provider’s stock after selling 100 shares during the period. S.A. Mason LLC’s holdings in Automatic Data Processing were worth $644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. BlueSpruce Investments LP purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $365,757,000. International Assets Investment Management LLC lifted its holdings in shares of Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after purchasing an additional 1,190,407 shares during the period. Nordea Investment Management AB grew its position in Automatic Data Processing by 27.7% in the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after buying an additional 552,096 shares during the period. Finally, Mackenzie Financial Corp raised its position in Automatic Data Processing by 242.4% during the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after buying an additional 456,027 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 in the last 90 days. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Stock Up 1.7 %

ADP opened at $292.78 on Thursday. The firm has a market cap of $119.83 billion, a P/E ratio of 32.68, a PEG ratio of 3.13 and a beta of 0.79. The business’s fifty day simple moving average is $280.80 and its 200 day simple moving average is $259.38. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18. 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 (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ADP shares. Barclays boosted their price target 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. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $277.64.

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.