Woodstock Corp Sells 1,607 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Woodstock Corp cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,489 shares of the business services provider's stock after selling 1,607 shares during the quarter. Automatic Data Processing makes up approximately 1.7% of Woodstock Corp's portfolio, making the stock its 15th biggest position. Woodstock Corp's holdings in Automatic Data Processing were worth $17,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AMG National Trust Bank boosted its position in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after acquiring an additional 33 shares during the period. Sentinus LLC boosted its position in Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after acquiring an additional 35 shares during the period. Rehmann Capital Advisory Group boosted its position in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after acquiring an additional 36 shares during the period. Optas LLC boosted its position in Automatic Data Processing by 3.4% during the 4th quarter. Optas LLC now owns 1,114 shares of the business services provider's stock worth $326,000 after acquiring an additional 37 shares during the period. Finally, Canton Hathaway LLC boosted its position in Automatic Data Processing by 6.7% during the 4th quarter. Canton Hathaway LLC now owns 593 shares of the business services provider's stock worth $174,000 after acquiring an additional 37 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADP shares. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday. Wall Street Zen lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $305.64.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This trade represents a 6.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,451 shares of company stock valued at $743,024. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Performance

ADP traded down $0.57 during trading on Thursday, hitting $325.64. The stock had a trading volume of 475,642 shares, compared to its average volume of 1,702,821. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $132.18 billion, a PE ratio of 33.96, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a 50 day simple moving average of $305.14 and a 200-day simple moving average of $302.23. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $327.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $2.88 EPS. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.89%. Automatic Data Processing's dividend payout ratio (DPR) is presently 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.