E. Ohman J or Asset Management AB Lowers Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

E. Ohman J or Asset Management AB decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,559 shares of the business services provider's stock after selling 1,000 shares during the period. E. Ohman J or Asset Management AB's holdings in Automatic Data Processing were worth $5,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the period. Sargent Investment Group LLC lifted its stake in Automatic Data Processing by 6.6% in the fourth quarter. Sargent Investment Group LLC now owns 1,346 shares of the business services provider's stock worth $391,000 after acquiring an additional 83 shares during the period. Stratos Investment Management LLC lifted its stake in Automatic Data Processing by 13.8% in the fourth quarter. Stratos Investment Management LLC now owns 1,901 shares of the business services provider's stock worth $557,000 after acquiring an additional 230 shares during the period. Hager Investment Management Services LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth $69,000. Finally, Summit Wealth Partners LLC lifted its position in Automatic Data Processing by 8.3% during the fourth quarter. Summit Wealth Partners LLC now owns 2,773 shares of the business services provider's stock valued at $812,000 after buying an additional 212 shares during the period. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated 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 of the company's stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock worth $743,024 in the last three months. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $0.58 during trading hours on Friday, hitting $326.81. The company's stock had a trading volume of 1,183,333 shares, compared to its average volume of 1,707,991. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.78. The company's 50 day simple moving average is $305.55 and its two-hundred day simple moving average is $302.43. The company has a market cap of $132.66 billion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. 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 (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the company earned $2.88 EPS. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.88%. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday. 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 report on Wednesday, May 21st. Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, UBS Group raised their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $305.64.

About Automatic Data Processing

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.