Nicolet Advisory Services LLC Has $445,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nicolet Advisory Services LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,564 shares of the business services provider’s stock after selling 246 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Automatic Data Processing were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Accredited Investors Inc. raised its stake in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. BlueSpruce Investments LP acquired a new position in Automatic Data Processing during the first quarter worth $365,757,000. International Assets Investment Management LLC raised its position in 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 acquiring an additional 1,190,407 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Automatic Data Processing by 238.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after acquiring an additional 552,096 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after acquiring an additional 456,027 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.2 %

ADP opened at $305.15 on Friday. The company has a market cap of $124.34 billion, a P/E ratio of 32.57, a PEG ratio of 3.54 and a beta of 0.79. 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 company’s 50 day moving average is $289.55 and its 200-day moving average is $266.02. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. 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 note on Monday, November 4th. Finally, TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other 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 transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,946 shares of company stock worth $27,462,781. 0.21% of the stock is currently owned by insiders.

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.