Nichols & Pratt Advisers LLP MA Has $96.06 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nichols & Pratt Advisers LLP MA trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,355 shares of the business services provider's stock after selling 6,152 shares during the quarter. Automatic Data Processing accounts for 6.6% of Nichols & Pratt Advisers LLP MA's holdings, making the stock its 2nd biggest holding. Nichols & Pratt Advisers LLP MA owned 0.08% of Automatic Data Processing worth $96,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Main Street Group LTD grew its holdings in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares in the last quarter. Abound Wealth Management grew its holdings in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ADP shares. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group reduced their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. TD Securities increased their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Mizuho increased their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, Morgan Stanley increased their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $307.08.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president owned 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $3.91 on Friday, reaching $308.96. The company had a trading volume of 1,393,190 shares, compared to its average volume of 1,713,506. The stock has a market capitalization of $125.41 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The business's 50-day moving average is $312.20 and its 200 day moving average is $303.53.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its 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. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $1.54 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.99%. Automatic Data Processing's dividend payout ratio (DPR) is currently 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.