Ipswich Investment Management Co. Inc. Has $1.92 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ipswich Investment Management Co. Inc. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 16.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,281 shares of the business services provider's stock after selling 1,265 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in Automatic Data Processing were worth $1,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Main Street Group LTD boosted its position in shares of 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 buying an additional 38 shares during the period. Cyrus J. Lawrence LLC increased its holdings 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 acquiring an additional 67 shares during the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Automatic Data Processing during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

ADP has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. TD Securities upped 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. UBS Group decreased their target price 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, 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 report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $306.82.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $2.93 during midday trading on Friday, hitting $306.82. The company had a trading volume of 2,021,642 shares, compared to its average volume of 1,705,704. The firm has a fifty day simple moving average of $308.06 and a two-hundred day simple moving average of $302.91. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $124.55 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93.

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, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the business earned $2.88 EPS. The firm's revenue was up 5.7% on a year-over-year basis. Equities analysts forecast 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 announced 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. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing 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 now owns 7,364 shares of the company's stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on 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 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. Company insiders own 0.21% of the company's stock.

Automatic Data Processing 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.