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

Kintegral Advisory LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 32.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,851 shares of the business services provider's stock after selling 8,266 shares during the period. Automatic Data Processing makes up about 0.8% of Kintegral Advisory LLC's portfolio, making the stock its 27th biggest holding. Kintegral Advisory LLC's holdings in Automatic Data Processing were worth $5,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of ADP. Main Street Group LTD boosted its holdings in shares of 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 valued at $33,000 after acquiring an additional 38 shares in the last quarter. Abound Wealth Management raised its holdings in Automatic Data Processing by 58.1% in 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 during the last quarter. Cyrus J. Lawrence LLC boosted its position in Automatic Data Processing by 121.8% during 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 valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Christopher D'ambrosio sold 478 shares of the firm'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 transaction, the vice president directly owned 7,364 shares of the company's stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADP. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group reduced their price objective on shares of 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. Finally, Morgan Stanley boosted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. One research 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $307.08.

Automatic Data Processing Stock Up 1.3%

Shares of Automatic Data Processing stock traded up $3.91 during trading hours on Friday, reaching $308.96. The company's stock had a trading volume of 1,393,190 shares, compared to its average volume of 1,714,041. The company has a market capitalization of $125.41 billion, a P/E ratio of 31.62, a P/E/G ratio of 2.87 and a beta of 0.76. The stock's fifty day simple moving average is $312.20 and its two-hundred day simple moving average is $303.42. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. 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 issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS 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 analyst estimates of $5.49 billion. During the same period in the previous year, the company posted $2.88 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, June 13th. Automatic Data Processing's dividend payout ratio is 63.05%.

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.