Unigestion Holding SA Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Unigestion Holding SA trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,292 shares of the business services provider's stock after selling 6,576 shares during the quarter. Automatic Data Processing accounts for 2.7% of Unigestion Holding SA's portfolio, making the stock its 7th largest position. Unigestion Holding SA's holdings in Automatic Data Processing were worth $46,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Sentry Investment Management LLC acquired a new position in Automatic Data Processing in the first quarter valued at about $390,000. RFG Advisory LLC lifted its stake in shares of Automatic Data Processing by 10.8% in the 1st quarter. RFG Advisory LLC now owns 7,666 shares of the business services provider's stock valued at $2,342,000 after purchasing an additional 747 shares during the period. Merit Financial Group LLC grew its stake in shares of Automatic Data Processing by 15.7% during the first quarter. Merit Financial Group LLC now owns 17,448 shares of the business services provider's stock worth $5,331,000 after purchasing an additional 2,371 shares during the period. Milestone Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $2,505,000. Finally, Hummer Financial Advisory Services Inc boosted its position in shares of Automatic Data Processing by 2.1% during the first quarter. Hummer Financial Advisory Services Inc now owns 4,950 shares of the business services provider's stock worth $1,520,000 after purchasing an additional 100 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Christopher D'ambrosio sold 473 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock worth $743,024 in the last three months. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, TD Securities raised 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 report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $305.64.

Automatic Data Processing Trading Up 0.0%

NASDAQ:ADP traded up $0.02 during trading hours on Thursday, hitting $326.23. 1,815,410 shares of the company were exchanged, compared to its average volume of 1,708,067. The company has a fifty day simple moving average of $305.14 and a 200 day simple moving average of $302.23. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $327.99. The stock has a market capitalization of $132.42 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

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 company 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 19.76% and a return on equity of 80.86%. Automatic Data Processing's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.88 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 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.