Stonebridge Financial Group LLC Sells 18,543 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Stonebridge Financial Group LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 97.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477 shares of the business services provider's stock after selling 18,543 shares during the period. Stonebridge Financial Group LLC's holdings in Automatic Data Processing were worth $146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Main Street Group LTD raised its position in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the period. Cyrus J. Lawrence LLC increased its stake in Automatic Data Processing by 121.8% during 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 increased its stake in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The transaction 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 company'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 transaction, the vice president now owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADP shares. TD Securities upped their price objective 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Morgan Stanley raised their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. UBS Group cut their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Finally, Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $307.08.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $303.45 on Monday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The company has a market cap of $123.18 billion, a P/E ratio of 31.06, a P/E/G ratio of 3.15 and a beta of 0.79. The firm's fifty day moving average price is $310.53 and its two-hundred day moving average price is $303.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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 is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing's payout ratio is 63.05%.

Automatic Data Processing 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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