Kathmere Capital Management LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kathmere Capital Management LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,279 shares of the business services provider’s stock after selling 138 shares during the period. Kathmere Capital Management LLC’s holdings in Automatic Data Processing were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Moneta Group Investment Advisors LLC grew its stake in Automatic Data Processing by 94,265.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after buying an additional 6,763,553 shares in the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $531,416,000. Gateway Advisory LLC lifted its holdings in shares of Automatic Data Processing by 22,163.0% in the 1st quarter. Gateway Advisory LLC now owns 1,740,744 shares of the business services provider’s stock worth $1,741,000 after acquiring an additional 1,732,925 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Automatic Data Processing by 902.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,023,100 shares of the business services provider’s stock worth $227,773,000 after acquiring an additional 921,000 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Automatic Data Processing by 39.8% in the 4th quarter. Amundi now owns 3,010,023 shares of the business services provider’s stock worth $733,450,000 after acquiring an additional 856,540 shares during the last quarter. Hedge funds and other institutional investors own 79.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Automatic Data Processing from $275.00 to $285.00 in a report on Friday, July 28th. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Mizuho boosted their price objective on shares of Automatic Data Processing from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $240.00 to $260.00 in a report on Wednesday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $249.57.

Automatic Data Processing Stock Down 1.2 %

Shares of NASDAQ ADP opened at $245.31 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $274.92. The firm has a market capitalization of $101.07 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.32 and a beta of 0.81. The firm has a fifty day simple moving average of $246.38 and a two-hundred day simple moving average of $226.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the business earned $1.50 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $5.00 annualized dividend and a yield of 2.04%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 60.98%.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 17,326 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $255.03, for a total value of $4,418,649.78. Following the completion of the transaction, the chief executive officer now directly owns 70,782 shares in the company, valued at approximately $18,051,533.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Maria Black sold 17,326 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $255.03, for a total value of $4,418,649.78. Following the sale, the chief executive officer now directly owns 70,782 shares of the company’s stock, valued at approximately $18,051,533.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carlos A. Rodriguez sold 52,254 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $247.93, for a total transaction of $12,955,334.22. Following the completion of the sale, the insider now directly owns 44,859 shares in the company, valued at $11,121,891.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,089 shares of company stock worth $42,719,064. 0.33% of the stock is currently owned by corporate insiders.

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.