Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Avanza Fonder AB

Avanza Fonder AB lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,679 shares of the business services provider's stock after selling 2,779 shares during the period. Avanza Fonder AB's holdings in Automatic Data Processing were worth $8,504,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADP. Littlejohn Financial Services Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth about $708,000. CIBC Asset Management Inc raised its stake in shares of Automatic Data Processing by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider's stock worth $45,647,000 after buying an additional 2,787 shares during the last quarter. Toronto Dominion Bank grew its stake in Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after acquiring an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after acquiring an additional 1,117 shares in the last quarter. Finally, Napatree Capital LLC raised its position in Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock worth $936,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADP. UBS Group raised their price objective 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. Stifel Nicolaus boosted their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $305.64.

Automatic Data Processing Trading Down 0.7%

Shares of NASDAQ ADP traded down $2.16 during trading on Wednesday, hitting $312.36. 1,323,495 shares of the company traded hands, compared to its average volume of 1,702,953. The firm has a market capitalization of $126.79 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $306.37 and a 200-day moving average price of $302.82. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly 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 company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.88 earnings per share. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared 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 of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.97%. Automatic Data Processing's payout ratio is 63.05%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the business's 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 transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares of the company's stock, 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 currently owned by corporate insiders.

About Automatic Data Processing

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.