Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Dividend Assets Capital LLC

Dividend Assets Capital LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 21.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,670 shares of the business services provider's stock after selling 5,468 shares during the quarter. Dividend Assets Capital LLC's holdings in Automatic Data Processing were worth $6,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADP. Main Street Group LTD lifted its holdings in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after buying an additional 38 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D'ambrosio sold 478 shares of the firm'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 in the company, valued at $2,158,682.96. This trade 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 company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus raised their price target on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday. 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 raised their price objective 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. Finally, UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday. One research 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.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $306.82.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $2.93 during mid-day trading on Friday, hitting $306.82. 2,021,642 shares of the company were exchanged, compared to its average volume of 1,705,702. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business's 50 day simple moving average is $308.06 and its two-hundred day simple moving average is $302.91. The company has a market capitalization of $124.55 billion, a P/E ratio of 31.99, a PEG ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month 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 the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 earnings per share. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

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.