Baldwin Wealth Partners LLC MA Sells 1,289 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Baldwin Wealth Partners LLC MA lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,944 shares of the business services provider's stock after selling 1,289 shares during the period. Baldwin Wealth Partners LLC MA's holdings in Automatic Data Processing were worth $3,344,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADP. Main Street Group LTD raised its stake in shares of 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 acquiring an additional 38 shares during the period. Cyrus J. Lawrence LLC boosted its stake in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $37,000. Banque de Luxembourg S.A. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $2.16 during trading on Wednesday, reaching $312.36. The company's stock had a trading volume of 1,323,495 shares, compared to its average volume of 1,702,953. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The business's fifty day moving average price is $306.89 and its 200-day moving average price is $302.88. The firm has a market cap of $126.79 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced 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 business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADP. UBS Group increased their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Royal Bank of Canada restated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, TD Securities lifted their price target on 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 research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $305.64.

Insiders Place Their Bets

In related news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated 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 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. Corporate insiders own 0.21% of the company's stock.

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.