Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,528 shares of the business services provider’s stock after selling 21,738 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of Automatic Data Processing worth $106,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in Automatic Data Processing by 0.3% during the fourth quarter. HighTower Advisors LLC now owns 247,486 shares of the business services provider’s stock worth $59,099,000 after purchasing an additional 652 shares in the last quarter. Arlington Partners LLC acquired a new position in Automatic Data Processing in the 1st quarter valued at $36,000. Regal Investment Advisors LLC increased its stake in Automatic Data Processing by 1.4% in the 4th quarter. Regal Investment Advisors LLC now owns 13,429 shares of the business services provider’s stock valued at $3,208,000 after buying an additional 191 shares during the period. IMS Capital Management increased its stake in Automatic Data Processing by 15.7% in the 4th quarter. IMS Capital Management now owns 8,321 shares of the business services provider’s stock valued at $1,988,000 after buying an additional 1,128 shares during the period. Finally, Bogart Wealth LLC increased its stake in Automatic Data Processing by 34.1% in the 1st quarter. Bogart Wealth LLC now owns 338 shares of the business services provider’s stock valued at $75,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 79.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADP. UBS Group began coverage on shares of Automatic Data Processing in a research note on Friday, June 2nd. They issued a “neutral” rating and a $230.00 price objective on the stock. Robert W. Baird boosted their target price on shares of Automatic Data Processing from $235.00 to $270.00 in a research report on Thursday, July 27th. Barclays boosted their target price on shares of Automatic Data Processing from $275.00 to $285.00 in a research report on Friday, July 28th. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $240.00 to $260.00 in a research report on Thursday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $249.57.

Insider Activity

In other news, VP Don Mcguire sold 3,880 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $253.90, for a total transaction of $985,132.00. Following the completion of the transaction, the vice president now owns 20,665 shares of the company’s stock, valued at approximately $5,246,843.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Don Mcguire sold 3,880 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $253.90, for a total transaction of $985,132.00. Following the completion of the transaction, the vice president now owns 20,665 shares of the company’s stock, valued at approximately $5,246,843.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP John Ayala sold 27,753 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $254.79, for a total transaction of $7,071,186.87. Following the transaction, the vice president now directly owns 45,893 shares of the company’s stock, valued at approximately $11,693,077.47. The disclosure for this sale can be found here. Insiders sold a total of 58,971 shares of company stock valued at $15,023,007 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $251.05 on Thursday. The firm has a market cap of $103.43 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average is $242.31 and its two-hundred day moving average is $225.61. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $274.92.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 26th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio is currently 60.98%.

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.