Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Lowered by Central Valley Advisors LLC

Central Valley Advisors LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 57.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 735 shares of the business services provider's stock after selling 1,000 shares during the period. Central Valley Advisors LLC's holdings in Automatic Data Processing were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ADP. Vanguard Group Inc. lifted its holdings 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 during the period. Geode Capital Management LLC increased its stake in Automatic Data Processing by 0.6% in the 4th 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 in the last quarter. Northern Trust Corp increased its holdings in shares of Automatic Data Processing by 17.1% in the 4th 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 period. Capital Research Global Investors grew its position in 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 worth $1,796,415,000 after acquiring an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after acquiring an additional 219,032 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADP. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. UBS Group increased their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report 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 research report on Thursday, June 5th. Finally, Stifel Nicolaus upped 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 analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $305.64.

Automatic Data Processing Price Performance

ADP traded down $2.16 on Wednesday, hitting $312.36. 1,323,495 shares of the company's stock traded hands, compared to its average volume of 1,702,953. The company's 50 day simple moving average is $306.37 and its 200-day simple moving average is $302.82. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The firm has a market cap of $126.79 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 3.62 and a beta of 0.79. 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 results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts anticipate 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. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing 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 completion of the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This represents a 6.10% 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.