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Williams Jones Wealth Management LLC. Sells 16,683 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Williams Jones Wealth Management LLC. lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 2.6% in the 1st quarter, Holdings Channel reports. The firm owned 628,761 shares of the business services provider’s stock after selling 16,683 shares during the period. Automatic Data Processing accounts for approximately 2.0% of Williams Jones Wealth Management LLC.’s investment portfolio, making the stock its 15th biggest holding. Williams Jones Wealth Management LLC.’s holdings in Automatic Data Processing were worth $143,068,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Hawaiian Bank increased its stake in Automatic Data Processing by 1.1% during the 1st quarter. First Hawaiian Bank now owns 4,176 shares of the business services provider’s stock valued at $950,000 after purchasing an additional 45 shares in the last quarter. Lindbrook Capital LLC increased its stake in Automatic Data Processing by 1.4% during the 1st quarter. Lindbrook Capital LLC now owns 3,302 shares of the business services provider’s stock valued at $751,000 after purchasing an additional 46 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in Automatic Data Processing by 0.4% during the 1st quarter. Atlantic Union Bankshares Corp now owns 10,589 shares of the business services provider’s stock valued at $2,409,000 after purchasing an additional 47 shares in the last quarter. Jacobi Capital Management LLC increased its stake in Automatic Data Processing by 0.8% during the 1st quarter. Jacobi Capital Management LLC now owns 5,585 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 47 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Automatic Data Processing by 1.4% during the 1st quarter. Empowered Funds LLC now owns 3,480 shares of the business services provider’s stock valued at $792,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 58,864 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $236.69, for a total transaction of $13,932,520.16. Following the sale, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Carlos A. Rodriguez sold 58,864 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $236.69, for a total transaction of $13,932,520.16. Following the sale, the chief executive officer now directly owns 44,426 shares in the company, valued at $10,515,189.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the sale, the vice president now owns 4,238 shares in the company, valued at $892,692.32. The disclosure for this sale can be found here. Insiders have sold a total of 69,755 shares of company stock valued at $16,630,637 over the last three months. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ADP shares. Cowen lifted their price objective on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Cowen lifted their price objective on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Wolfe Research cut their price objective on shares of Automatic Data Processing from $235.00 to $210.00 in a report on Wednesday, July 20th. Barclays lifted their price objective on shares of Automatic Data Processing to $280.00 in a report on Tuesday, August 9th. Finally, Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $235.92.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $244.30 on Friday. The company has a market cap of $101.51 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 2.50 and a beta of 0.82. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $261.59. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $237.15 and its two-hundred day simple moving average is $223.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.48 by $0.02. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.34%.

Automatic Data Processing Company Profile

(Get Rating)

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.

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