Automatic Data Processing, Inc. (NASDAQ:ADP) is Mcdaniel Terry & Co.'s 3rd Largest Position

Mcdaniel Terry & Co. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,014 shares of the business services provider's stock after selling 1,062 shares during the quarter. Automatic Data Processing comprises 5.2% of Mcdaniel Terry & Co.'s investment portfolio, making the stock its 3rd biggest position. Mcdaniel Terry & Co.'s holdings in Automatic Data Processing were worth $59,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADP. GAMMA Investing LLC grew 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 during the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $396,714,000. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 26.9% during the 4th 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 purchasing an additional 1,299,390 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at $342,942,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% 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 Christopher D'ambrosio sold 478 shares of the business'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 now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 0.2%

Shares of Automatic Data Processing stock traded up $0.47 during midday trading on Friday, reaching $303.45. 1,931,112 shares of the company's stock traded hands, compared to its average volume of 1,711,231. The stock has a 50 day moving average of $310.53 and a 200-day moving average of $303.07. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The company has a market cap of $123.18 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.15 and a beta of 0.79. 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 the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ADP shares. Morgan Stanley increased 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Mizuho increased their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Stifel Nicolaus increased their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, TD Securities increased their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $307.08.

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.