King Luther Capital Management Corp Sells 185 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

King Luther Capital Management Corp trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,544 shares of the business services provider’s stock after selling 185 shares during the period. King Luther Capital Management Corp’s holdings in Automatic Data Processing were worth $16,604,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ADP. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Automatic Data Processing by 103,224.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 44,739,436 shares of the business services provider’s stock worth $9,833,281,000 after acquiring an additional 44,696,136 shares during the period. Morgan Stanley raised its position in Automatic Data Processing by 7.8% in the fourth quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock worth $2,629,852,000 after purchasing an additional 794,328 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Automatic Data Processing by 4.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 8,472,075 shares of the business services provider’s stock worth $1,862,077,000 after purchasing an additional 364,284 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Automatic Data Processing by 94,265.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after purchasing an additional 6,763,553 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Automatic Data Processing by 0.4% in the 1st quarter. Wellington Management Group LLP now owns 5,182,839 shares of the business services provider’s stock valued at $1,153,855,000 after purchasing an additional 20,771 shares during the period. Institutional investors and hedge funds own 79.37% of the company’s stock.

Insider Activity

In other news, VP Don Mcguire sold 2,380 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $238.91, for a total value of $568,605.80. Following the transaction, the vice president now owns 20,665 shares of the company’s stock, valued at approximately $4,937,075.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Don Mcguire sold 2,380 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $238.91, for a total transaction of $568,605.80. Following the transaction, the vice president now owns 20,665 shares of the company’s stock, valued at approximately $4,937,075.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carlos A. Rodriguez sold 58,864 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the transaction, the insider now directly owns 44,859 shares in the company, valued at approximately $11,233,590.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,420 shares of company stock valued at $41,491,937. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho cut their target price on Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Royal Bank of Canada assumed coverage on Automatic Data Processing in a report on Tuesday, September 5th. They set a “sector perform” rating and a $267.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a report on Tuesday, August 22nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $240.00 to $260.00 in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $248.42.

Automatic Data Processing Stock Up 1.0 %

Shares of NASDAQ:ADP opened at $231.71 on Tuesday. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $274.92. The company’s 50-day moving average price is $236.36 and its two-hundred day moving average price is $232.98. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.86. The firm has a market cap of $95.30 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.15 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 25th. The business services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. Automatic Data Processing had a net margin of 19.07% and a return on equity of 102.59%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.52 billion. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.25. Automatic Data Processing’s dividend payout ratio (DPR) is 66.59%.

Automatic Data Processing 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.