Crossmark Global Holdings Inc. Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Crossmark Global Holdings Inc. grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 78,352 shares of the business services provider's stock after buying an additional 2,146 shares during the period. Crossmark Global Holdings Inc.'s holdings in Automatic Data Processing were worth $23,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Fullcircle Wealth LLC grew its position in shares of Automatic Data Processing by 22.4% in the first quarter. Fullcircle Wealth LLC now owns 862 shares of the business services provider's stock valued at $253,000 after purchasing an additional 158 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Automatic Data Processing by 17.4% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 6,379 shares of the business services provider's stock valued at $1,949,000 after buying an additional 944 shares during the period. Pacific Point Advisors LLC lifted its stake in shares of Automatic Data Processing by 9.1% during the first quarter. Pacific Point Advisors LLC now owns 4,829 shares of the business services provider's stock valued at $1,475,000 after buying an additional 404 shares during the period. Financial Counselors Inc. lifted its stake in shares of Automatic Data Processing by 9.6% during the first quarter. Financial Counselors Inc. now owns 13,730 shares of the business services provider's stock valued at $4,195,000 after buying an additional 1,198 shares during the period. Finally, Callan Capital LLC purchased a new position in shares of Automatic Data Processing during the first quarter valued at approximately $204,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group reduced their price objective 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, June 13th. Morgan Stanley increased their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. TD Securities increased their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. 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 increased their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and an average price target of $307.08.

Automatic Data Processing Trading Up 1.3%

Automatic Data Processing stock opened at $308.96 on Monday. The firm's 50-day moving average is $312.20 and its 200-day moving average is $303.61. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a market cap of $125.41 billion, a P/E ratio of 31.62, a PEG ratio of 2.87 and a beta of 0.76.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The company 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 19.79% and a return on equity of 77.33%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $2.88 EPS. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $1.54 per share. The ex-dividend date was Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing's payout ratio is 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president owned 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company's stock.

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.

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