AEGON ASSET MANAGEMENT UK Plc Sells 2,041 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 191,656 shares of the business services provider’s stock after selling 2,041 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Automatic Data Processing were worth $52,916,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing during the third quarter worth about $35,000. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing in the first quarter worth about $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. 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. In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on 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 sale, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADP. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Bank of America upped their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Citigroup lifted their target price 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

ADP stock opened at $304.73 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $124.17 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.37 and a beta of 0.79. The company’s fifty day simple moving average is $284.12 and its 200 day simple moving average is $261.82. Automatic Data Processing, Inc. has a 12-month low of $225.38 and a 12-month high of $306.92.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the business earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Automatic Data Processing Company 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.