Kintegral Advisory LLC Reduces Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kintegral Advisory LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,851 shares of the business services provider's stock after selling 8,266 shares during the quarter. Automatic Data Processing accounts for approximately 0.8% of Kintegral Advisory LLC's holdings, making the stock its 27th largest holding. Kintegral Advisory LLC's holdings in Automatic Data Processing were worth $5,174,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADP. GAMMA Investing LLC raised its position in Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after acquiring an additional 2,892,660 shares in the last quarter. Norges Bank purchased a new position in Automatic Data Processing during the fourth quarter valued at approximately $455,993,000. Winslow Capital Management LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors raised its position in Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Automatic Data Processing during the fourth quarter valued at approximately $342,942,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.2%

Shares of Automatic Data Processing stock traded down $0.62 during trading hours on Monday, hitting $308.59. The company's stock had a trading volume of 439,175 shares, compared to its average volume of 1,708,503. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The firm has a fifty day moving average of $312.20 and a 200-day moving average of $303.61. The stock has a market cap of $125.26 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 2.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the company posted $2.88 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $1.54 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insider Activity

In related news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president owned 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

ADP has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on 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. UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Royal Bank Of Canada reaffirmed 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, TD Securities lifted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $307.08.

About Automatic Data Processing

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.