Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Cut by Cozad Asset Management Inc.

Cozad Asset Management Inc. lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,405 shares of the business services provider’s stock after selling 150 shares during the period. Cozad Asset Management Inc.’s holdings in Automatic Data Processing were worth $1,496,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the second quarter worth approximately $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $33,000. Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing in the 1st quarter worth about $36,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. 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 research report on Thursday, August 1st. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. 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 presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, 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 directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of Automatic Data Processing 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 sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Kwon sold 846 shares of the business’s 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 directly owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 in the last 90 days. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Trading Down 0.1 %

Shares of NASDAQ:ADP opened at $304.85 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $124.21 billion, a PE ratio of 32.53, a P/E/G ratio of 3.37 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $223.28 and a 1 year high of $306.71. The firm has a fifty day moving average price of $282.92 and a 200 day moving average price of $261.11.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results 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. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s payout ratio is currently 59.77%.

Automatic Data Processing Company 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.