Heathbridge Capital Management Ltd. Cuts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Heathbridge Capital Management Ltd. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,773 shares of the business services provider’s stock after selling 150 shares during the period. Automatic Data Processing comprises 3.7% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 15th largest holding. Heathbridge Capital Management Ltd.’s holdings in Automatic Data Processing were worth $9,623,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC grew its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in 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 buying an additional 51 shares during the period. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the 1st quarter worth $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ:ADP opened at $291.96 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market cap of $119.50 billion, a PE ratio of 32.58, a P/E/G ratio of 3.13 and a beta of 0.79. The company’s 50-day moving average price is $276.03 and its 200 day moving average price is $256.51.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADP shares. Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Barclays lifted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Citigroup upped their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $267.83.

About Automatic Data Processing

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.