Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Reduced by R.H. Investment Group LLC

R.H. Investment Group LLC lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,374 shares of the business services provider's stock after selling 1,196 shares during the period. Automatic Data Processing makes up approximately 5.1% of R.H. Investment Group LLC's portfolio, making the stock its 5th largest position. R.H. Investment Group LLC's holdings in Automatic Data Processing were worth $5,308,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ADP. Main Street Group LTD increased its position in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake 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 worth $35,000 after purchasing an additional 67 shares in the last quarter. Abound Wealth Management boosted its stake in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares during the last quarter. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Finally, Morgan Stanley increased their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $3.91 on Friday, hitting $308.96. The company had a trading volume of 1,393,190 shares, compared to its average volume of 1,713,506. 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 twelve month low of $231.27 and a twelve month high of $329.93. The company has a 50-day moving average price of $312.20 and a 200-day moving average price of $303.61. The firm has a market cap of $125.41 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion for 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 company posted $2.88 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 given a $1.54 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. Automatic Data Processing's dividend payout ratio (DPR) is 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.