Carderock Capital Management Inc. Sells 519 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Carderock Capital Management Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,539 shares of the business services provider’s stock after selling 519 shares during the period. Automatic Data Processing comprises 2.1% of Carderock Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. Carderock Capital Management Inc.’s holdings in Automatic Data Processing were worth $8,728,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADP. Vanguard Group Inc. increased its holdings in Automatic Data Processing by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after purchasing an additional 173,298 shares during the period. Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after buying an additional 435,093 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Automatic Data Processing by 2.3% during the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after buying an additional 81,869 shares during the period. Legal & General Group Plc raised its holdings in shares of Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after acquiring an additional 139,561 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Automatic Data Processing by 27.7% in the first 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 during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

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 transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Don Mcguire sold 3,179 shares of the 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 $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADP shares. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Barclays boosted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Price Performance

Shares of ADP opened at $290.70 on Thursday. The business’s 50-day moving average is $275.45 and its two-hundred day moving average is $256.27. The company has a market capitalization of $118.98 billion, a P/E ratio of 32.44, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. 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 (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. Research 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 $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 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.