Brighton Jones LLC Has $2.68 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Brighton Jones LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,765 shares of the business services provider's stock after selling 1,261 shares during the quarter. Brighton Jones LLC's holdings in Automatic Data Processing were worth $2,678,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock worth $11,923,265,000 after acquiring an additional 277,324 shares in the last quarter. Geode Capital Management LLC boosted its position in Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock worth $3,098,305,000 after purchasing an additional 65,965 shares during the period. Northern Trust Corp grew its holdings in Automatic Data Processing by 17.1% during the fourth 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 during the last quarter. Capital Research Global Investors raised its position in shares of Automatic Data Processing by 26.9% in the fourth 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 period. Finally, Invesco Ltd. lifted its stake in shares of Automatic Data Processing by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after buying an additional 219,032 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday. Mizuho lifted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday. TD Securities increased their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $306.82.

Automatic Data Processing Stock Performance

ADP opened at $306.82 on Monday. The stock's 50 day simple moving average is $308.06 and its 200-day simple moving average is $302.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $124.55 billion, a PE ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79. 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 posted 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 firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. 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 (DPR) is currently 63.05%.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the business'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 owns 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company'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 sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.

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