Caxton Associates LP Sells 6,572 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Caxton Associates LP lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 73.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,376 shares of the business services provider’s stock after selling 6,572 shares during the quarter. Caxton Associates LP’s holdings in Automatic Data Processing were worth $567,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Moors & Cabot Inc. raised its stake in Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after buying an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. increased its position in Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after acquiring an additional 40 shares during the last quarter. Confluence Wealth Services Inc. lifted its holdings in Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 41 shares during the period. Prestige Wealth Management Group LLC boosted its position in Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 43 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Automatic Data Processing by 1.3% in the second quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock worth $828,000 after purchasing an additional 43 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Don Mcguire sold 3,179 shares of the firm’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 completion of the sale, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. 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 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 0.3 %

Shares of Automatic Data Processing stock opened at $274.43 on Friday. 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 $112.32 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 3.02 and a beta of 0.79. The firm’s 50-day moving average is $266.59 and its two-hundred day moving average is $252.25. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. As a group, research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $267.83.

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.