G&S Capital LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

G&S Capital LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 80.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,268 shares of the business services provider's stock after selling 5,280 shares during the quarter. G&S Capital LLC's holdings in Automatic Data Processing were worth $387,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Argent Advisors Inc. increased its position in shares of Automatic Data Processing by 11.1% during the first quarter. Argent Advisors Inc. now owns 2,125 shares of the business services provider's stock worth $649,000 after buying an additional 212 shares during the period. Ameritas Advisory Services LLC increased its holdings in Automatic Data Processing by 2.4% in the first quarter. Ameritas Advisory Services LLC now owns 1,595 shares of the business services provider's stock worth $474,000 after purchasing an additional 38 shares in the last quarter. Amalgamated Bank increased its holdings in Automatic Data Processing by 0.9% in the first quarter. Amalgamated Bank now owns 93,604 shares of the business services provider's stock worth $28,599,000 after purchasing an additional 837 shares in the last quarter. Verity Asset Management Inc. increased its holdings in Automatic Data Processing by 98.2% in the first quarter. Verity Asset Management Inc. now owns 2,256 shares of the business services provider's stock worth $689,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC increased its holdings in Automatic Data Processing by 3.5% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,460 shares of the business services provider's stock worth $446,000 after purchasing an additional 50 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Mizuho increased their target price 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. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Morgan Stanley raised their price objective on shares of 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, TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $5.74 during trading hours on Wednesday, reaching $304.40. 629,574 shares of the company were exchanged, compared to its average volume of 1,707,313. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The business's 50 day simple moving average is $311.35 and its 200-day simple moving average is $303.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $123.56 billion, a P/E ratio of 31.15, a P/E/G ratio of 3.20 and a beta of 0.76.

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 (EPS) 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 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 business's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 earnings per share. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $1.54 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing's payout ratio is 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by insiders.

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.