Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,617 shares of the business services provider’s stock after selling 4,145 shares during the quarter. Fiduciary Trust Co’s holdings in Automatic Data Processing were worth $29,227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its position in shares of Automatic Data Processing by 78.5% during the 3rd 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $35,000. Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth $36,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the 2nd quarter worth $40,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.3 %

Shares of ADP opened at $306.92 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $291.26 and a two-hundred day simple moving average of $267.31. The company has a market capitalization of $125.06 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $2.08 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,504 shares of company stock worth $20,298,056. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Barclays lifted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. 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. Finally, TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

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.