97,739 Automatic Data Processing, Inc. $ADP Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,010 shares of the business services provider’s stock after selling 97,739 shares during the period. Automatic Data Processing accounts for about 0.9% of Jefferies Financial Group Inc.’s portfolio, making the stock its 7th biggest position. Jefferies Financial Group Inc. owned 0.12% of Automatic Data Processing worth $123,871,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. First Command Advisory Services Inc. increased its stake in shares of Automatic Data Processing by 77.6% in the 3rd quarter. First Command Advisory Services Inc. now owns 2,334 shares of the business services provider’s stock valued at $606,000 after acquiring an additional 1,020 shares in the last quarter. Brooklyn FI LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at $473,000. AMG National Trust Bank lifted its position in shares of Automatic Data Processing by 0.3% during the 3rd quarter. AMG National Trust Bank now owns 11,660 shares of the business services provider’s stock valued at $3,009,000 after acquiring an additional 35 shares during the period. Mesirow Financial Investment Management Inc. lifted its position in shares of Automatic Data Processing by 0.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,477 shares of the business services provider’s stock valued at $3,478,000 after acquiring an additional 44 shares during the period. Finally, Keybank National Association OH boosted its stake in Automatic Data Processing by 3.9% during the third quarter. Keybank National Association OH now owns 183,326 shares of the business services provider’s stock worth $47,309,000 after acquiring an additional 6,803 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3%

Shares of Automatic Data Processing stock opened at $306.36 on Thursday. The stock has a market capitalization of $120.94 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.98. The stock has a 50 day moving average price of $280.31 and a two-hundred day moving average price of $242.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.03 and a current ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the firm earned $2.49 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 11th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.70. Automatic Data Processing’s payout ratio is 60.28%.

Analyst Ratings Changes

A number of research firms have commented on ADP. Wells Fargo & Company raised their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a research note on Wednesday, October 28th. Cantor Fitzgerald upped their price objective on shares of Automatic Data Processing from $310.00 to $336.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $290.00 price objective on shares of Automatic Data Processing in a report on Thursday, October 29th. Finally, Morgan Stanley increased their price objective on shares of Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $285.00.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 770 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $300.35, for a total transaction of $231,269.50. Following the transaction, the vice president owned 4,961 shares in the company, valued at approximately $1,490,036.35. This represents a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the transaction, the vice president directly owned 18,824 shares in the company, valued at $5,324,744.88. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,207 shares of company stock worth $14,522,300 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.