Broderick Brian C Decreases Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Broderick Brian C decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,379 shares of the business services provider's stock after selling 821 shares during the quarter. Automatic Data Processing accounts for about 3.6% of Broderick Brian C's investment portfolio, making the stock its 7th largest position. Broderick Brian C's holdings in Automatic Data Processing were worth $17,531,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Main Street Group LTD raised 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 period. Abound Wealth Management grew its holdings in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares during the period. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing in the 4th quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP traded down $0.85 on Wednesday, hitting $306.77. The company's stock had a trading volume of 1,427,194 shares, compared to its average volume of 1,710,825. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $124.52 billion, a PE ratio of 31.40, a PEG ratio of 3.20 and a beta of 0.79. The company has a 50 day moving average price of $308.94 and a 200 day moving average price of $302.89. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.88 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is 63.05%.

Insider Activity at Automatic Data Processing

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADP shares. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday. UBS Group dropped their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. TD Securities upped their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $307.08.

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.