Norden Group LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Norden Group LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,191 shares of the business services provider’s stock after selling 202 shares during the period. Norden Group LLC’s holdings in Automatic Data Processing were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. SRS Capital Advisors Inc. raised its holdings in Automatic Data Processing by 20.9% in the second quarter. SRS Capital Advisors Inc. now owns 3,378 shares of the business services provider’s stock valued at $806,000 after acquiring an additional 585 shares in the last quarter. Commonwealth Retirement Investments LLC increased its position in shares of Automatic Data Processing by 5.8% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 4,940 shares of the business services provider’s stock valued at $1,179,000 after purchasing an additional 269 shares during the last quarter. Advisor OS LLC raised its holdings in shares of Automatic Data Processing by 9.3% in the 2nd quarter. Advisor OS LLC now owns 2,074 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 177 shares in the last quarter. Savant Capital LLC lifted its position in shares of Automatic Data Processing by 11.2% during the 2nd quarter. Savant Capital LLC now owns 9,543 shares of the business services provider’s stock worth $2,278,000 after purchasing an additional 963 shares during the last quarter. Finally, Candriam S.C.A. grew its stake in shares of Automatic Data Processing by 10.9% during the second quarter. Candriam S.C.A. now owns 170,117 shares of the business services provider’s stock worth $40,603,000 after purchasing an additional 16,688 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus raised 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. Barclays boosted 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. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $265.36.

Insider Activity

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s 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 transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,614 shares of company stock valued at $13,519,460. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ:ADP opened at $269.56 on Friday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $278.24. 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 cap of $110.33 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.00 and a beta of 0.78. The firm has a fifty day moving average price of $256.39 and a 200 day moving average price of $249.71.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

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.