Automatic Data Processing, Inc. (NASDAQ:ADP) Position Trimmed by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,784 shares of the business services provider's stock after selling 824 shares during the quarter. Automatic Data Processing accounts for 2.7% of Steigerwald Gordon & Koch Inc.'s investment portfolio, making the stock its 14th largest holding. Steigerwald Gordon & Koch Inc.'s holdings in Automatic Data Processing were worth $24,376,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Littlejohn Financial Services Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $708,000. CIBC Asset Management Inc boosted its position in shares of Automatic Data Processing by 1.8% in the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider's stock worth $45,647,000 after acquiring an additional 2,787 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after acquiring an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after acquiring an additional 1,117 shares during the last quarter. Finally, Napatree Capital LLC boosted its position in shares of Automatic Data Processing by 2.7% in the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock worth $936,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.0%

Shares of NASDAQ:ADP traded down $0.04 during midday trading on Thursday, reaching $326.17. The company had a trading volume of 1,817,095 shares, compared to its average volume of 1,709,713. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock's fifty day moving average price is $305.14 and its 200-day moving average price is $302.23. The stock has a market capitalization of $132.40 billion, a P/E ratio of 34.01, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $327.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 earnings per share. Equities research 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 1.89%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Analysts Set New Price Targets

ADP has been the topic of several research reports. TD Securities raised 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. Wall Street Zen lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group lifted their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday. One equities research 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, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $305.64.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This trade represents a 6.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock valued at $743,024 over the last 90 days. 0.21% of the stock is 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.