Keybank National Association OH Sells 3,008 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Keybank National Association OH cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,147 shares of the business services provider's stock after selling 3,008 shares during the period. Keybank National Association OH's holdings in Automatic Data Processing were worth $52,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing during the 4th quarter worth $957,000. Fisher Asset Management LLC lifted its position in Automatic Data Processing by 19.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,279 shares of the business services provider's stock worth $667,000 after acquiring an additional 364 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Automatic Data Processing by 68.2% during the 4th quarter. Jones Financial Companies Lllp now owns 9,718 shares of the business services provider's stock worth $2,845,000 after acquiring an additional 3,940 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Automatic Data Processing during the 4th quarter worth $559,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

NASDAQ:ADP traded up $3.91 during mid-day trading on Friday, hitting $308.96. The company's stock had a trading volume of 1,393,190 shares, compared to its average volume of 1,713,506. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 2.87 and a beta of 0.76. The stock has a fifty day moving average of $312.20 and a 200-day moving average of $303.53.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. The company's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. UBS Group cut 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 report on Friday, June 13th. Morgan Stanley upped 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 report on Tuesday, June 17th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. TD Securities upped 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 report on Wednesday, May 21st. Finally, Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. One 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's stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $307.08.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president directly owned 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.