Sanibel Captiva Trust Company Inc. Grows Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sanibel Captiva Trust Company Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,003 shares of the business services provider's stock after purchasing an additional 1,742 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Automatic Data Processing were worth $4,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its position in Automatic Data Processing by 811.7% in the 1st quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after purchasing an additional 567,664 shares during the period. Abacus FCF Advisors LLC grew its holdings in shares of Automatic Data Processing by 2.7% in the first quarter. Abacus FCF Advisors LLC now owns 32,416 shares of the business services provider's stock worth $9,904,000 after acquiring an additional 845 shares during the period. Accurate Wealth Management LLC increased its position in Automatic Data Processing by 15.7% during the first quarter. Accurate Wealth Management LLC now owns 1,150 shares of the business services provider's stock valued at $344,000 after acquiring an additional 156 shares during the last quarter. Fiduciary Financial Group LLC lifted its holdings in Automatic Data Processing by 19.9% in the first quarter. Fiduciary Financial Group LLC now owns 1,210 shares of the business services provider's stock valued at $354,000 after acquiring an additional 201 shares during the period. Finally, Simplicity Wealth LLC lifted its holdings in Automatic Data Processing by 151.3% in the first quarter. Simplicity Wealth LLC now owns 9,131 shares of the business services provider's stock valued at $2,790,000 after acquiring an additional 5,497 shares during the period. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $2.16 on Wednesday, hitting $312.36. 1,323,495 shares of the stock traded hands, compared to its average volume of 1,702,953. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The firm has a 50 day simple moving average of $306.37 and a two-hundred day simple moving average of $302.82. The firm has a market cap of $126.79 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Automatic Data Processing's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADP shares. TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $305.64.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 1,500 shares of the company'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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction dated 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 now directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.