Envestnet Portfolio Solutions Inc. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,858 shares of the business services provider's stock after selling 4,867 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Automatic Data Processing were worth $5,762,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Automatic Data Processing by 0.7% in 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 acquiring an additional 277,324 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Automatic Data Processing by 0.6% in the 4th 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 purchasing an additional 65,965 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after purchasing an additional 902,354 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 26.9% during the 4th 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 purchasing an additional 1,299,390 shares during the last quarter. Finally, Invesco Ltd. increased its position in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after purchasing an additional 219,032 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing Trading Down 0.2%
Shares of Automatic Data Processing stock traded down $0.51 during midday trading on Friday, reaching $306.26. The company had a trading volume of 3,637,760 shares, compared to its average volume of 1,715,238. The stock has a fifty day moving average price of $309.61 and a 200 day moving average price of $302.94. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The firm has a market cap of $124.32 billion, a PE ratio of 31.35, a P/E/G ratio of 3.18 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates 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 19.79% and a return on equity of 77.33%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.
Automatic Data Processing Announces Dividend
The company also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing's payout ratio is 63.05%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ADP. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group cut their price objective 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. TD Securities upped 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, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $307.08.
Check Out Our Latest Stock Analysis on ADP
Insider Buying and Selling at Automatic Data Processing
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 completion of the sale, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction 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 transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.
About Automatic Data Processing
(
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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