Brown Lisle Cummings Inc. Sells 35 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Brown Lisle Cummings Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,049 shares of the business services provider’s stock after selling 35 shares during the period. Brown Lisle Cummings Inc.’s holdings in Automatic Data Processing were worth $844,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Global Assets Advisory LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $12,375,000. Harbor Investment Advisory LLC increased its holdings in Automatic Data Processing by 4.5% in the first quarter. Harbor Investment Advisory LLC now owns 4,302 shares of the business services provider’s stock valued at $1,074,000 after purchasing an additional 186 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Automatic Data Processing during the 1st quarter worth about $135,000. Bourne Lent Asset Management Inc. bought a new position in Automatic Data Processing during the 1st quarter worth approximately $212,000. Finally, Evanson Asset Management LLC bought a new stake in Automatic Data Processing in the first quarter valued at approximately $213,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADP shares. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $267.83.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Kwon sold 846 shares of the stock in a transaction that occurred on 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 approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $292.29 on Monday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The company has a market cap of $119.63 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-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 data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations 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 was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio is presently 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.