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

Franklin Resources Inc. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,031 shares of the business services provider’s stock after selling 2,046 shares during the quarter. Franklin Resources Inc. owned approximately 0.11% of Automatic Data Processing worth $93,684,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $26,000. Core Alternative Capital grew its position in Automatic Data Processing by 761.1% in the 1st quarter. Core Alternative Capital now owns 155 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 137 shares in the last quarter. Castle Wealth Management LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $42,000. Arlington Partners LLC grew its position in Automatic Data Processing by 505.9% in the 2nd quarter. Arlington Partners LLC now owns 206 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 172 shares in the last quarter. Finally, Better Money Decisions LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $48,000. 79.06% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP stock opened at $262.58 on Thursday. The business has a 50 day moving average price of $237.38 and a 200 day moving average price of $230.36. The stock has a market cap of $108.93 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.64 and a beta of 0.82. Automatic Data Processing, Inc. has a fifty-two week low of $192.26 and a fifty-two week high of $264.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.16.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its earnings results on Wednesday, October 26th. The business services provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Automatic Data Processing had a return on equity of 80.50% and a net margin of 17.93%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 8.13 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be paid a dividend of $1.25 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $5.00 annualized dividend and a yield of 1.90%. Automatic Data Processing’s payout ratio is presently 57.54%.

Insider Buying and Selling

In other Automatic Data Processing news, VP James T. Sperduto sold 207 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $242.34, for a total value of $50,164.38. Following the completion of the sale, the vice president now owns 8,535 shares in the company, valued at $2,068,371.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 58,864 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the completion of the sale, the chief executive officer now owns 44,426 shares in the company, valued at $10,515,189.94. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP James T. Sperduto sold 207 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $242.34, for a total value of $50,164.38. Following the completion of the sale, the vice president now owns 8,535 shares of the company’s stock, valued at approximately $2,068,371.90. The disclosure for this sale can be found here. Insiders sold a total of 97,091 shares of company stock worth $23,026,905 over the last 90 days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on ADP. Morgan Stanley lifted their target price on Automatic Data Processing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, October 27th. Barclays lifted their price objective on Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Cowen lifted their price objective on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday, September 20th. Robert W. Baird lifted their price objective on Automatic Data Processing to $251.00 in a research note on Tuesday, November 1st. Finally, Mizuho lifted their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $240.55.

Automatic Data Processing Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.