Trust Co. of Vermont Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Trust Co. of Vermont trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,022 shares of the business services provider's stock after selling 3,149 shares during the quarter. Trust Co. of Vermont's holdings in Automatic Data Processing were worth $17,727,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tanager Wealth Management LLP grew its position in shares of Automatic Data Processing by 55.8% during the first quarter. Tanager Wealth Management LLP now owns 1,485 shares of the business services provider's stock valued at $456,000 after purchasing an additional 532 shares in the last quarter. PDS Planning Inc boosted its stake in Automatic Data Processing by 3.8% during the first quarter. PDS Planning Inc now owns 4,530 shares of the business services provider's stock valued at $1,384,000 after buying an additional 164 shares during the last quarter. Nvest Financial LLC boosted its stake in Automatic Data Processing by 19.8% during the first quarter. Nvest Financial LLC now owns 4,812 shares of the business services provider's stock valued at $1,470,000 after buying an additional 795 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Automatic Data Processing by 21.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 340,450 shares of the business services provider's stock valued at $104,018,000 after buying an additional 61,123 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its stake in Automatic Data Processing by 39.8% in the 1st quarter. Pure Financial Advisors LLC now owns 955 shares of the business services provider's stock worth $292,000 after acquiring an additional 272 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $302.98 on Friday. 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 12 month low of $231.27 and a 12 month high of $329.93. The company has a market capitalization of $122.99 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.09 and a beta of 0.79. The firm's 50-day moving average is $310.33 and its 200 day moving average is $303.05.

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 (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing's dividend payout ratio (DPR) is 63.05%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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. UBS Group decreased their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Morgan Stanley increased their price objective 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 boosted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and a consensus target price of $307.08.

Insider Activity

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction 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 completion of the sale, the vice president now directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

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.

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