STF Management LP Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

STF Management LP trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,534 shares of the business services provider’s stock after selling 301 shares during the quarter. STF Management LP’s holdings in Automatic Data Processing were worth $1,560,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Schmidt P J Investment Management Inc. raised its stake in shares of Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after acquiring an additional 40 shares in the last quarter. Confluence Wealth Services Inc. raised its position in Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares during the period. Prestige Wealth Management Group LLC lifted its stake in Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 43 shares during the last quarter. Patron Partners LLC boosted its position in Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock valued at $683,000 after buying an additional 44 shares during the period. Finally, Lester Murray Antman dba SimplyRich grew its stake in shares of Automatic Data Processing by 0.9% during the second quarter. Lester Murray Antman dba SimplyRich now owns 5,328 shares of the business services provider’s stock valued at $1,271,000 after buying an additional 45 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADP. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays boosted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $265.36.

Insider Transactions at Automatic Data Processing

In related news, 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 transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s 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 transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last three months. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $277.51 on Monday. The company has a 50-day simple moving average of $260.52 and a two-hundred day simple moving average of $250.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $113.17 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $279.58.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.