Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Reduced by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 81.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,788 shares of the business services provider's stock after selling 134,370 shares during the quarter. Temasek Holdings Private Ltd's holdings in Automatic Data Processing were worth $8,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Littlejohn Financial Services Inc. purchased a new position in Automatic Data Processing during the fourth quarter worth about $708,000. Beaumont Financial Advisors LLC lifted its position in Automatic Data Processing by 46.8% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,239 shares of the business services provider's stock worth $948,000 after buying an additional 1,032 shares during the period. Perigon Wealth Management LLC lifted its position in Automatic Data Processing by 33.3% during the fourth quarter. Perigon Wealth Management LLC now owns 30,926 shares of the business services provider's stock worth $9,161,000 after buying an additional 7,734 shares during the period. CIBC Asset Management Inc lifted its position in Automatic Data Processing by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider's stock worth $45,647,000 after buying an additional 2,787 shares during the period. Finally, OLD National Bancorp IN lifted its position in Automatic Data Processing by 7.8% during the fourth quarter. OLD National Bancorp IN now owns 13,677 shares of the business services provider's stock worth $4,004,000 after buying an additional 985 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock worth $743,024 in the last 90 days. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 0.1%

Shares of ADP stock traded down $0.17 during trading hours on Wednesday, reaching $322.63. The company had a trading volume of 1,892,282 shares, compared to its average volume of 1,702,937. 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, Inc. has a twelve month low of $231.27 and a twelve month high of $323.67. The company has a market capitalization of $130.96 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock's fifty day simple moving average is $299.51 and its 200 day simple moving average is $300.53.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted 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. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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 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 1.91%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. Finally, TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.