LVW Advisors LLC Has $449,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

LVW Advisors LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,622 shares of the business services provider’s stock after selling 810 shares during the period. LVW Advisors LLC’s holdings in Automatic Data Processing were worth $449,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc raised its stake in Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after acquiring an additional 264,466 shares during the last quarter. SG Americas Securities LLC raised its position in Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $2,924,000. Finally, Toronto Dominion Bank grew its holdings in shares of Automatic Data Processing by 1.7% during the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after purchasing an additional 4,253 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $288.36 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $273.55 and its 200 day simple moving average is $255.33. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $288.50. The company has a market cap of $117.60 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 61.47%.

Insider Activity

In other news, VP David Kwon sold 846 shares of the company’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 transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 transaction, the vice president now 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 filing with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Barclays upped their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $267.83.

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.