Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 5,983 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 640,477 shares of the business services provider's stock after selling 5,983 shares during the period. Automatic Data Processing makes up approximately 1.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings, making the stock its 19th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.16% of Automatic Data Processing worth $188,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AMG National Trust Bank grew its holdings in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after acquiring an additional 33 shares during the last quarter. Sentinus LLC raised its position in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after acquiring an additional 35 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after acquiring an additional 36 shares during the last quarter. Main Street Group LTD increased its position in Automatic Data Processing by 50.7% in 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 during the period. Finally, Howard Financial Services LTD. raised its holdings in Automatic Data Processing by 2.2% during the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock worth $530,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Up 1.6%

Automatic Data Processing stock traded up $4.96 during midday trading on Monday, reaching $308.41. The stock had a trading volume of 1,175,622 shares, compared to its average volume of 1,714,041. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-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. The firm's fifty day simple moving average is $310.53 and its 200-day simple moving average is $303.10. The stock has a market capitalization of $125.19 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 3.15 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced 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 net margin of 19.79% and a return on equity of 77.33%. 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 previous year, the firm posted $2.88 earnings per share. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is 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 currently 63.05%.

Insider Activity

In other news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing 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 completion of the transaction, the vice president now directly owns 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. 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 report on Tuesday, June 17th. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. 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, Mizuho lifted their price objective 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.