Worldquant Millennium Advisors LLC Has $6.97 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Worldquant Millennium Advisors LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 78.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,803 shares of the business services provider's stock after selling 84,689 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Automatic Data Processing were worth $6,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ADP. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing in the fourth quarter valued at $708,000. Beaumont Financial Advisors LLC grew its holdings in shares of Automatic Data Processing by 46.8% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,239 shares of the business services provider's stock valued at $948,000 after acquiring an additional 1,032 shares in the last quarter. Perigon Wealth Management LLC raised its holdings 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 acquiring an additional 7,734 shares in the last quarter. CIBC Asset Management Inc boosted 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 valued at $45,647,000 after purchasing an additional 2,787 shares during the last quarter. Finally, OLD National Bancorp IN grew its stake in Automatic Data Processing by 7.8% in the fourth quarter. OLD National Bancorp IN now owns 13,677 shares of the business services provider's stock valued at $4,004,000 after purchasing an additional 985 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADP shares. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. One research 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's stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $305.64.

Automatic Data Processing Stock Down 0.1%

Shares of ADP opened at $322.63 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $323.66. The firm has a market cap 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 firm's 50-day simple moving average is $300.13 and its 200 day simple moving average is $300.69. 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 (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 company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is 63.05%.

Insider Activity

In other news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on 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 directly owns 12,073 shares in the company, valued at $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. Over the last 90 days, insiders sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by company insiders.

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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