TCV Trust & Wealth Management Inc. Has $18.16 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

TCV Trust & Wealth Management Inc. reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,443 shares of the business services provider's stock after selling 1,944 shares during the quarter. Automatic Data Processing makes up approximately 1.7% of TCV Trust & Wealth Management Inc.'s holdings, making the stock its 15th largest holding. TCV Trust & Wealth Management Inc.'s holdings in Automatic Data Processing were worth $18,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Toronto Dominion Bank raised its position in Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after purchasing an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC raised its position in Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Napatree Capital LLC raised its position in Automatic Data Processing by 2.7% in the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock worth $936,000 after purchasing an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Automatic Data Processing by 8.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after purchasing an additional 20,467 shares during the last quarter. Finally, Brighton Jones LLC raised its position in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Christopher D'ambrosio sold 478 shares of the 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 in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the 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 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. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $303.45 on Friday. The firm has a market cap of $123.18 billion, a PE ratio of 31.06, a PEG ratio of 3.14 and a beta of 0.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company has a fifty day moving average price of $310.53 and a 200 day moving average price of $303.06.

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 for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The firm 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 19.79% and a return on equity of 77.33%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.88 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is presently 63.05%.

Analyst Ratings Changes

Several research analysts recently weighed in on ADP shares. TD Securities boosted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. UBS Group dropped their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. One investment 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.com, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $307.08.

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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