JGP Wealth Management LLC Sells 6,273 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

JGP Wealth Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,487 shares of the business services provider's stock after selling 6,273 shares during the period. Automatic Data Processing makes up about 2.5% of JGP Wealth Management LLC's portfolio, making the stock its 8th largest position. JGP Wealth Management LLC's holdings in Automatic Data Processing were worth $19,092,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADP. GAMMA Investing LLC boosted its holdings in shares of Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after acquiring an additional 2,892,660 shares during the last quarter. Norges Bank acquired a new position in Automatic Data Processing during the fourth quarter worth $455,993,000. Winslow Capital Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $396,714,000. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $342,942,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Up 0.1%

Shares of NASDAQ:ADP traded up $0.20 during trading on Thursday, hitting $326.41. 439,498 shares of the company were exchanged, compared to its average volume of 1,792,351. The stock has a market capitalization of $132.50 billion, a P/E ratio of 34.04, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $327.99. The firm's 50 day moving average price is $305.14 and its 200-day moving average price is $302.23.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued 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 business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.89%. Automatic Data Processing's payout ratio is 63.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $305.64.

Insider Activity

In other news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing 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 of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock valued at $743,024 in the last ninety days. 0.21% of the stock is currently owned by company 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.