Lombard Odier Asset Management USA Corp Sells 1,250 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Lombard Odier Asset Management USA Corp reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,250 shares of the business services provider’s stock after selling 1,250 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Automatic Data Processing were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the second quarter worth about $27,000. Keener Financial Planning LLC raised its position in shares of 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 worth $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth approximately $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $36,000. Finally, Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $39,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 in the last quarter. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $277.58 on Tuesday. The firm’s 50-day moving average is $265.46 and its two-hundred day moving average is $251.85. 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 stock has a market capitalization of $113.61 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Barclays raised their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Bank of America increased their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $265.36.

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.