Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,722 shares of the business services provider's stock after selling 1,598 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Automatic Data Processing were worth $5,423,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADP. Main Street Group LTD grew its position in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake 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 purchasing an additional 67 shares during the last quarter. Abound Wealth Management boosted its holdings in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares during the period. Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $37,000. Institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Securities raised their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group dropped their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $307.08.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the 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 directly owned 7,364 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Up 1.3%

NASDAQ:ADP traded up $3.91 during midday trading on Friday, hitting $308.96. The stock had a trading volume of 1,393,190 shares, compared to its average volume of 1,714,041. The stock has a 50-day moving average of $311.86 and a 200 day moving average of $303.33. The company has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

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 for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.88 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

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.