Prime Capital Investment Advisors LLC Sells 3,949 Shares of Automatic Data Processing, Inc. $ADP

Prime Capital Investment Advisors LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,830 shares of the business services provider’s stock after selling 3,949 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Automatic Data Processing were worth $4,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth $8,097,229,000. Bank of America Corp DE acquired a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $1,231,175,000. Deutsche Bank AG acquired a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $994,937,000. Bank of New York Mellon Corp bought a new stake in Automatic Data Processing during the 2nd quarter worth $725,513,000. Finally, Legal & General Group Plc bought a new stake in Automatic Data Processing during the 2nd quarter worth $562,425,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $292.75 on Wednesday. The company has a market capitalization of $116.00 billion, a P/E ratio of 26.76, a PEG ratio of 2.60 and a beta of 0.83. The company has a fifty day moving average price of $273.69 and a 200-day moving average price of $243.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $294.27.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 12.27 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a $1.70 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.3%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insider Buying and Selling

In other news, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at $22,648,087.84. This trade represents a 26.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock valued at $9,450,629 over the last three months. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley upped their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. TD Cowen lifted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Citigroup lifted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Finally, UBS Group upped their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.