Sachetta LLC Lowers Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sachetta LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,202 shares of the business services provider’s stock after selling 84 shares during the period. Sachetta LLC’s holdings in Automatic Data Processing were worth $1,164,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADP. Prospera Private Wealth LLC purchased a new position in Automatic Data Processing in the 3rd quarter worth $273,000. West Family Investments Inc. increased its holdings in shares of Automatic Data Processing by 23.0% in the third quarter. West Family Investments Inc. now owns 1,557 shares of the business services provider’s stock worth $431,000 after buying an additional 291 shares during the period. Second Half Financial Partners LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $204,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Automatic Data Processing during the 3rd quarter valued at about $13,076,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Automatic Data Processing by 6.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 25,339 shares of the business services provider’s stock valued at $7,012,000 after acquiring an additional 1,549 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.1 %

NASDAQ:ADP opened at $297.54 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $288.04 and a 200-day moving average price of $264.93. The firm has a market capitalization of $121.24 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

Insider Buying and Selling

In other news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,792 shares of company stock valued at $27,691,708. Corporate insiders own 0.21% of the company’s stock.

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.