Sawyer & Company Inc Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sawyer & Company Inc trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,982 shares of the business services provider's stock after selling 994 shares during the period. Automatic Data Processing accounts for 2.5% of Sawyer & Company Inc's portfolio, making the stock its 10th largest holding. Sawyer & Company Inc's holdings in Automatic Data Processing were worth $6,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Main Street Group LTD increased 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 acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC increased 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 acquiring an additional 67 shares during the last quarter. Abound Wealth Management increased its holdings in Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Morgan Stanley lifted their price target 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. TD Securities lifted their price target 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. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. 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. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $307.08.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $306.26 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The stock has a market capitalization of $124.32 billion, a P/E ratio of 31.35, a PEG ratio of 3.18 and a beta of 0.79. The firm has a fifty day simple moving average of $309.61 and a two-hundred day simple moving average of $302.94. 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 (NASDAQ:ADP - Get Free Report) last released its quarterly 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the company earned $2.88 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 1st. The stock was 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 of the company's stock, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate 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.

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