Frank Rimerman Advisors LLC Sells 662 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Frank Rimerman Advisors LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,356 shares of the business services provider’s stock after selling 662 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Automatic Data Processing were worth $1,759,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after acquiring an additional 173,298 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after purchasing an additional 435,093 shares during the period. Capital Research Global Investors boosted its position in shares of Automatic Data Processing by 2.3% during the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after acquiring an additional 81,869 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after acquiring an additional 589,831 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction 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 completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade 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 valued at $15,999,208 over the last quarter. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $287.96 on Friday. The firm has a market cap of $117.86 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The firm’s fifty day moving average is $279.40 and its 200-day moving average is $258.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm earned $1.89 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current 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 paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADP. Bank of America increased their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays increased 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 report on Monday, August 5th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $277.64.

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.