Stifel Financial Corp Cuts Stake in Automatic Data Processing, Inc. (ADP)

Stifel Financial Corp lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,587 shares of the business services provider’s stock after selling 10,930 shares during the period. Stifel Financial Corp owned about 0.08% of Automatic Data Processing worth $35,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Acrospire Investment Management LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $102,000. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $113,000. Grove Bank & Trust lifted its stake in shares of Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. lifted its stake in shares of Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 32 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $112.08 on Wednesday. The firm has a market capitalization of $49,462.40, a price-to-earnings ratio of 29.82, a PEG ratio of 2.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing, Inc. has a twelve month low of $91.60 and a twelve month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. sell-side analysts predict that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.25%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is presently 58.02%.

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ADP has been the subject of a number of recent analyst reports. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Argus upped their price target on Automatic Data Processing from $118.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Monday, October 16th. Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target for the company in a research report on Tuesday. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $112.37.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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