Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,513 shares of the business services provider's stock after selling 5,910 shares during the period. KBC Group NV's holdings in Automatic Data Processing were worth $25,821,000 as of its most recent SEC filing.

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

Automatic Data Processing Stock Down 1.6%

Shares of NASDAQ ADP traded down $5.08 during mid-day trading on Wednesday, reaching $305.05. 1,327,759 shares of the company were exchanged, compared to its average volume of 1,711,732. The stock has a market cap of $123.83 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 2.88 and a beta of 0.76. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 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. The firm has a 50-day moving average of $311.35 and a 200 day moving average of $303.23.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter last year, the firm earned $2.88 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed 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 2.02%. The ex-dividend date of this dividend was Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

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

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.