Seilern Investment Management Ltd Decreases Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Seilern Investment Management Ltd decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,131 shares of the business services provider's stock after selling 6,061 shares during the period. Automatic Data Processing comprises approximately 0.8% of Seilern Investment Management Ltd's investment portfolio, making the stock its 16th largest holding. Seilern Investment Management Ltd's holdings in Automatic Data Processing were worth $12,567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Main Street Group LTD lifted 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 purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after buying an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock worth $743,024 over the last three months. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $326.81 on Friday. The company's 50 day simple moving average is $305.96 and its 200-day simple moving average is $302.65. The company has a market capitalization of $132.66 billion, a price-to-earnings ratio of 34.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its 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 analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 1.88%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. UBS Group lifted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a 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 report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $305.64.

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.

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