DT Investment Partners LLC Sells 1,797 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

DT Investment Partners LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,614 shares of the business services provider's stock after selling 1,797 shares during the quarter. Automatic Data Processing accounts for about 0.8% of DT Investment Partners LLC's portfolio, making the stock its 29th biggest holding. DT Investment Partners LLC's holdings in Automatic Data Processing were worth $7,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADP. GAMMA Investing LLC lifted its stake in Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after buying an additional 1,148 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of 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 valued at $69,290,000 after purchasing an additional 21,910 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of 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 valued at $1,090,000 after purchasing an additional 1,117 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 valued at $76,638,000 after purchasing an additional 20,467 shares during the period. Finally, Napatree Capital LLC increased its holdings in shares of Automatic Data Processing by 2.7% in the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock valued at $936,000 after purchasing an additional 84 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was 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 directly owned 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $3.91 during midday trading on Friday, reaching $308.96. 1,393,190 shares of the company traded hands, compared to its average volume of 1,713,506. The firm has a market cap of $125.41 billion, a PE ratio of 31.62, a PEG ratio of 2.87 and a beta of 0.76. The stock's 50-day simple moving average is $312.20 and its 200-day simple moving average is $303.53. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. 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 (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on ADP shares. Morgan Stanley increased their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus increased 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 objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, 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 report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $307.08.

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.