Mutual of America Capital Management LLC Sells 1,494 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mutual of America Capital Management LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,325 shares of the business services provider's stock after selling 1,494 shares during the period. Mutual of America Capital Management LLC's holdings in Automatic Data Processing were worth $14,459,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Automatic Data Processing during the 4th quarter worth $957,000. FMR LLC increased its holdings in Automatic Data Processing by 0.6% in the 4th quarter. FMR LLC now owns 1,268,211 shares of the business services provider's stock worth $371,243,000 after purchasing an additional 7,082 shares in the last quarter. Rathbones Group PLC raised its position in Automatic Data Processing by 2.2% in the fourth quarter. Rathbones Group PLC now owns 2,306 shares of the business services provider's stock valued at $675,000 after purchasing an additional 50 shares during the last quarter. Finally, FIL Ltd raised its position in Automatic Data Processing by 158.1% in the fourth quarter. FIL Ltd now owns 11,310 shares of the business services provider's stock valued at $3,311,000 after purchasing an additional 6,928 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

ADP has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a report on Thursday, July 10th. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $314.33.

Automatic Data Processing Trading Up 0.6%

Shares of ADP stock traded up $1.85 on Thursday, hitting $303.49. 1,519,826 shares of the company's stock traded hands, compared to its average volume of 1,489,213. The stock has a market capitalization of $123.19 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 2.77 and a beta of 0.81. The company's fifty day simple moving average is $308.52 and its 200 day simple moving average is $305.35. Automatic Data Processing, Inc. has a one year low of $258.51 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the previous year, the firm earned $2.09 EPS. The business's quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is currently 61.72%.

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.