Hudson Valley Investment Advisors Inc. ADV Reduces Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hudson Valley Investment Advisors Inc. ADV lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,305 shares of the business services provider's stock after selling 1,075 shares during the period. Hudson Valley Investment Advisors Inc. ADV's holdings in Automatic Data Processing were worth $2,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Main Street Group LTD lifted its position in Automatic Data Processing by 50.7% during the 4th 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 during the period. Cyrus J. Lawrence LLC increased its holdings in 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 worth $35,000 after buying an additional 67 shares during the period. Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing in the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Finally, TD Securities lifted their price target 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $305.64.

Automatic Data Processing Price Performance

ADP traded down $4.05 during trading on Tuesday, hitting $314.52. The company's stock had a trading volume of 1,422,021 shares, compared to its average volume of 1,703,572. The firm has a market capitalization of $127.67 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The business's fifty day simple moving average is $306.37 and its 200 day simple moving average is $302.82. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.96%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the 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 sale, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the business'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 value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $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. 0.21% of the stock is currently owned by corporate 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.