Kovack Advisors Inc. lessened its holdings in Automatic Data Processing (NASDAQ:ADP) by 22.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,389 shares of the business services provider’s stock after selling 396 shares during the period. Kovack Advisors Inc.’s holdings in Automatic Data Processing were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Atlantic Trust LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth $104,000. Integrated Investment Consultants LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth $111,000. Jolley Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth $117,000. Fort L.P. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth $119,000. Finally, Kaizen Advisory LLC lifted its position in shares of Automatic Data Processing by 149.7% during the 2nd quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock worth $145,000 after purchasing an additional 648 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Shares of NASDAQ:ADP opened at $140.72 on Friday. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58. The firm has a market cap of $65.90 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.57 and a beta of 0.92.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business earned $0.66 EPS. Automatic Data Processing’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing will post 5.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.76 annualized dividend and a yield of 1.96%. Automatic Data Processing’s dividend payout ratio is currently 63.45%.

Several research firms have recently issued reports on ADP. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Moffett Nathanson began coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 price objective for the company. Jefferies Financial Group began coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They set a “hold” rating and a $160.00 price objective for the company. Guggenheim began coverage on shares of Automatic Data Processing in a research report on Monday, August 20th. They set a “buy” rating and a $175.00 price objective for the company. Finally, BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $144.47.

In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of Automatic Data Processing stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total value of $482,850.75. Following the transaction, the vice president now directly owns 6,081 shares in the company, valued at $877,792.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,334 shares of Automatic Data Processing stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $144.77, for a total transaction of $337,893.18. The disclosure for this sale can be found here. Insiders have sold a total of 15,919 shares of company stock worth $2,351,933 over the last quarter. 0.33% of the stock is owned by company insiders.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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