Moreno Evelyn V Reduces Stock Holdings in Automatic Data Processing (NASDAQ:ADP)

Moreno Evelyn V decreased its stake in Automatic Data Processing (NASDAQ:ADP) by 25.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,318 shares of the business services provider’s stock after selling 1,835 shares during the quarter. Moreno Evelyn V’s holdings in Automatic Data Processing were worth $879,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ADP. Horan Capital Advisors LLC. purchased a new position in Automatic Data Processing during the 1st quarter valued at $31,000. C J Advisory Inc purchased a new position in Automatic Data Processing during the 1st quarter valued at $32,000. Cypress Capital Management LLC WY boosted its holdings in Automatic Data Processing by 257.1% during the 1st quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 144 shares during the period. Permanens Capital L.P. purchased a new position in Automatic Data Processing during the 1st quarter valued at $32,000. Finally, Mackey Komara & Dankovich LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

NASDAQ ADP traded up $1.53 on Thursday, reaching $165.37. 30,972 shares of the stock traded hands, compared to its average volume of 2,128,594. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $165.72. The company has a market cap of $71.98 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. Automatic Data Processing’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. Equities analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.

A number of equities analysts recently issued reports on ADP shares. Citigroup boosted their price objective on Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Robert W. Baird boosted their price objective on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a report on Friday, June 21st. ValuEngine cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays boosted their price objective on Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $174.10.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of Automatic Data Processing stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the sale, the vice president now directly owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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