Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,181 shares of the business services provider's stock after selling 965 shares during the period. Copeland Capital Management LLC's holdings in Automatic Data Processing were worth $14,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Main Street Group LTD increased its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after buying an additional 38 shares in the last quarter. Abound Wealth Management increased its holdings in Automatic Data Processing by 58.1% in 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 increased its holdings in 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 buying an additional 67 shares in the last quarter. Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Mizuho raised their price objective 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. Finally, UBS Group dropped their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $307.08.

Insiders Place Their Bets

In other Automatic Data Processing 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 owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing 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 owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Up 0.2%

ADP stock opened at $303.45 on Friday. The stock has a market capitalization of $123.18 billion, a P/E ratio of 31.06, a PEG ratio of 3.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The company has a 50 day moving average price of $310.53 and a two-hundred day moving average price of $303.06.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released 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 net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.03%. Automatic Data Processing's payout ratio is currently 63.05%.

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.

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