Automatic Data Processing, Inc. (NASDAQ:ADP) is Cedar Brook Financial Partners LLC’s Largest Position

Cedar Brook Financial Partners LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,013 shares of the business services provider’s stock after selling 219 shares during the quarter. Automatic Data Processing comprises approximately 40.1% of Cedar Brook Financial Partners LLC’s holdings, making the stock its biggest position. Cedar Brook Financial Partners LLC’s holdings in Automatic Data Processing were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC grew its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at approximately $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 over the last quarter. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADP shares. Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $267.83.

Automatic Data Processing Stock Down 0.6 %

Shares of Automatic Data Processing stock traded down $1.73 during trading on Monday, hitting $290.56. 246,636 shares of the stock traded hands, compared to its average volume of 1,629,394. The firm has a market cap of $118.92 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 3.13 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 0.66. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The stock’s fifty day simple moving average is $276.64 and its 200 day simple moving average is $256.99.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating 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%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 earnings per share. On average, equities analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.