Donaldson Capital Management LLC Sells 1,034 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Donaldson Capital Management LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,726 shares of the business services provider's stock after selling 1,034 shares during the period. Donaldson Capital Management LLC's holdings in Automatic Data Processing were worth $14,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in shares of Automatic Data Processing by 10.3% during the 4th quarter. Angeles Wealth Management LLC now owns 1,562 shares of the business services provider's stock worth $457,000 after buying an additional 146 shares during the last quarter. Savant Capital LLC boosted its stake in shares of Automatic Data Processing by 5.6% during the 4th quarter. Savant Capital LLC now owns 11,191 shares of the business services provider's stock worth $3,276,000 after buying an additional 597 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Soltis Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 2.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,983 shares of the business services provider's stock worth $873,000 after buying an additional 70 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADP. 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 note on Friday, May 2nd. 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 note on Wednesday, May 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $305.64.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $2.61 during trading hours on Thursday, hitting $309.75. The company had a trading volume of 1,798,851 shares, compared to its average volume of 1,703,092. The firm has a market cap of $125.73 billion, a PE ratio of 32.30, a PEG ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The firm has a 50-day moving average of $307.46 and a 200 day moving average of $302.92.

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, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 EPS. On average, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing's dividend payout ratio is currently 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.