Hemenway Trust Co LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,893 shares of the business services provider's stock after acquiring an additional 4,645 shares during the quarter. Automatic Data Processing accounts for about 3.8% of Hemenway Trust Co LLC's portfolio, making the stock its 9th biggest holding. Hemenway Trust Co LLC's holdings in Automatic Data Processing were worth $47,019,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Automatic Data Processing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after buying an additional 277,324 shares in the last quarter. Geode Capital Management LLC lifted its stake in Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock valued at $3,098,305,000 after buying an additional 65,965 shares in the last quarter. Northern Trust Corp lifted its stake in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares in the last quarter. Capital Research Global Investors lifted its stake in 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 valued at $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Automatic Data Processing by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after buying an additional 219,032 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.
Automatic Data Processing Stock Down 0.1%
ADP opened at $307.62 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $124.87 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.20 and a beta of 0.79. The business has a 50 day moving average of $308.94 and a 200-day moving average of $302.89.
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, 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 return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $2.88 earnings per share. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.
Automatic Data Processing Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing's dividend payout ratio is currently 63.05%.
Insiders Place Their Bets
In related news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the vice president now owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on ADP. 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. 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 note on Wednesday, May 21st. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. 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 report on Friday, June 13th. Finally, Stifel Nicolaus upped their target price on 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, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and an average target price of $307.08.
View Our Latest Stock Analysis on ADP
Automatic Data Processing Profile
(
Free Report)
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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