OneDigital Investment Advisors LLC Sells 388 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

OneDigital Investment Advisors LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 44,317 shares of the business services provider’s stock after selling 388 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Automatic Data Processing were worth $12,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing during the 2nd quarter worth $27,000. Hexagon Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing in the first quarter worth $33,000. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing in the third quarter valued at about $35,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the first quarter worth about $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $301.99 on Friday. The firm has a market capitalization of $123.05 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 3.58 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $286.03 and its 200-day moving average price is $263.23. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the company earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.74%.

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $289.91.

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.