Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Crossmark Global Holdings Inc.

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Golden State Wealth Management LLC boosted its holdings in Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after acquiring an additional 129 shares during the period. GAMMA Investing LLC boosted its holdings in Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after acquiring an additional 1,148 shares during the period. Toronto Dominion Bank boosted its holdings in Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after acquiring an additional 21,910 shares during the period. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after acquiring an additional 1,117 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Automatic Data Processing by 8.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after acquiring an additional 20,467 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group reduced their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. 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 research note on Tuesday, June 17th. Finally, Mizuho increased their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $307.08.

Automatic Data Processing Stock Performance

ADP traded down $0.80 during trading hours on Monday, hitting $308.40. 1,635,700 shares of the stock were exchanged, compared to its average volume of 1,713,194. The stock has a 50-day simple moving average of $312.20 and a 200-day simple moving average of $303.61. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The stock has a market cap of $125.19 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period last year, the company earned $2.88 earnings per share. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. Analysts anticipate 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 given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the 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 directly owned 7,364 shares of the company's stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

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.