Lbp Am Sa Sells 3,012 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Lbp Am Sa lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,021 shares of the business services provider's stock after selling 3,012 shares during the period. Lbp Am Sa's holdings in Automatic Data Processing were worth $23,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ADP. GAMMA Investing LLC lifted its stake in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after buying an additional 2,892,660 shares during the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $455,993,000. Winslow Capital Management LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $396,714,000. Capital Research Global Investors increased 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 worth $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Finally, Northern Trust Corp increased its position in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock worth $1,807,438,000 after acquiring an additional 902,354 shares during the period. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other news, VP Christopher D'ambrosio sold 478 shares of the firm's 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 completion of the transaction, the vice president directly owned 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ADP shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. TD Securities lifted their target price on shares of 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 lifted 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, June 13th. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley lifted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $306.90 on Wednesday. The firm has a market cap of $124.58 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. 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 debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50 day moving average price of $312.72 and a 200-day moving average price of $303.73.

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, 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 company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

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.

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