Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 40.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,568 shares of the business services provider's stock after selling 160,304 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Automatic Data Processing worth $72,584,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADP. Main Street Group LTD increased its stake in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC boosted 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 valued at $35,000 after acquiring an additional 67 shares during the last quarter. Abound Wealth Management boosted 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 valued at $36,000 after acquiring an additional 43 shares during the last quarter. Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

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 value of $140,120.92. Following the sale, the vice president directly owned 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $3.91 during trading on Friday, hitting $308.96. 1,393,190 shares of the company traded hands, compared to its average volume of 1,713,506. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The business's fifty day moving average is $312.20 and its 200-day moving average is $303.61. The stock has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business's revenue for the quarter 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. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $1.54 per share. The ex-dividend date was Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Analysts Set New Price Targets

ADP has been the topic of several research analyst reports. TD Securities increased their price target 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. Mizuho upped their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. 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. Finally, Morgan Stanley upped their price target on 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and a consensus price target of $307.08.

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.