Albert D Mason Inc. Sells 990 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Albert D Mason Inc. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,963 shares of the business services provider's stock after selling 990 shares during the period. Automatic Data Processing makes up about 1.9% of Albert D Mason Inc.'s portfolio, making the stock its 6th biggest position. Albert D Mason Inc.'s holdings in Automatic Data Processing were worth $2,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Main Street Group LTD grew its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares during the last quarter. Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing during the fourth quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Automatic Data Processing in the 4th quarter valued at about $37,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $38,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADP. UBS Group dropped their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday. Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities boosted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and a consensus price target of $306.82.

Automatic Data Processing Trading Down 0.9%

NASDAQ ADP traded down $2.93 on Friday, hitting $306.82. 2,021,642 shares of the stock were exchanged, compared to its average volume of 1,708,109. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average price of $308.06 and a two-hundred day moving average price of $302.88. The firm has a market capitalization of $124.55 billion, a P/E ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Company Profile

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.