Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 511,992 shares of the business services provider's stock after selling 8,180 shares during the period. Automatic Data Processing comprises approximately 1.1% of Boston Trust Walden Corp's holdings, making the stock its 11th largest holding. Boston Trust Walden Corp owned about 0.13% of Automatic Data Processing worth $156,429,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ADP. Brighton Jones LLC grew its stake in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $957,000. Kestra Investment Management LLC lifted its holdings in Automatic Data Processing by 40.7% in the fourth quarter. Kestra Investment Management LLC now owns 1,141 shares of the business services provider's stock valued at $334,000 after acquiring an additional 330 shares during the period. Valley Wealth Managers Inc. grew its position in Automatic Data Processing by 8.4% during the fourth quarter. Valley Wealth Managers Inc. now owns 1,695 shares of the business services provider's stock valued at $496,000 after buying an additional 132 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in Automatic Data Processing by 1.1% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,491 shares of the business services provider's stock worth $1,315,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.3%

ADP traded down $0.85 during trading hours on Thursday, reaching $306.77. The company's stock had a trading volume of 1,427,194 shares, compared to its average volume of 1,713,649. The business's 50-day moving average is $309.19 and its 200-day moving average is $302.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $124.52 billion, a PE ratio of 31.40, a P/E/G ratio of 3.19 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $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 fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.01%. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, 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 value of $458,070.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Morgan Stanley increased their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday. UBS Group decreased their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Finally, Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $307.08.

Automatic Data Processing 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.