Automatic Data Processing, Inc. (NASDAQ:ADP) is ProShare Advisors LLC’s 10th Largest Position

ProShare Advisors LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,141,356 shares of the business services provider’s stock after selling 113,836 shares during the quarter. Automatic Data Processing accounts for 1.0% of ProShare Advisors LLC’s portfolio, making the stock its 10th biggest holding. ProShare Advisors LLC owned 0.28% of Automatic Data Processing worth $258,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $26,000. Wellington Shields & Co. LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $29,000. Cowa LLC bought a new stake in Automatic Data Processing during the third quarter valued at about $34,000. Castle Wealth Management LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $42,000. Finally, Arlington Partners LLC grew its holdings in Automatic Data Processing by 505.9% during the second quarter. Arlington Partners LLC now owns 206 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $10.49 during mid-day trading on Wednesday, reaching $228.66. The stock had a trading volume of 240,801 shares, compared to its average volume of 1,587,175. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.16. The company has a market cap of $94.85 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. Automatic Data Processing, Inc. has a 1 year low of $192.26 and a 1 year high of $274.92. The business’s 50 day moving average price is $249.15 and its 200 day moving average price is $241.57.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its earnings results on Wednesday, October 26th. The business services provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 earnings per share. Research analysts expect that Automatic Data Processing, Inc. will post 8.12 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be given a $1.25 dividend. The ex-dividend date is Thursday, March 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.19%. Automatic Data Processing’s dividend payout ratio is currently 69.16%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Donald Weinstein sold 5,075 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total transaction of $1,243,375.00. Following the sale, the vice president now directly owns 32,950 shares in the company, valued at $8,072,750. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 37,594 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $241.29, for a total transaction of $9,071,056.26. Following the sale, the insider now directly owns 44,481 shares in the company, valued at $10,732,820.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald Weinstein sold 5,075 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $245.00, for a total value of $1,243,375.00. Following the sale, the vice president now owns 32,950 shares in the company, valued at $8,072,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,557 shares of company stock worth $25,351,834. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ADP. Cowen boosted their price target on Automatic Data Processing to $237.00 in a report on Thursday, October 27th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Robert W. Baird upped their price objective on Automatic Data Processing to $251.00 in a research note on Tuesday, November 1st. Wolfe Research upped their price objective on Automatic Data Processing from $220.00 to $225.00 in a research note on Thursday, January 5th. Finally, Morgan Stanley upped their price objective on Automatic Data Processing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 27th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $244.45.

About Automatic Data Processing

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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.

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

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