Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 82,613 shares of the business services provider's stock after selling 2,981 shares during the period. Yousif Capital Management LLC's holdings in Automatic Data Processing were worth $25,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADP. GAMMA Investing LLC increased its holdings in Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after acquiring an additional 2,892,660 shares in the last quarter. Norges Bank purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at $455,993,000. Winslow Capital Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors grew its holdings in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $342,942,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group lifted 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 report on Tuesday, March 4th. TD Securities lifted their price target 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. Finally, Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus price target of $305.64.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction dated 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 owns 12,073 shares of the company's stock, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.7%

Shares of NASDAQ ADP traded down $2.16 during trading on Wednesday, reaching $312.36. 1,323,495 shares of the stock were exchanged, compared to its average volume of 1,702,953. The business's 50-day moving average price is $306.37 and its 200 day moving average price is $302.82. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $126.79 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping 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 net margin of 19.76% and a return on equity of 80.86%. The business's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced 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 of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.97%. Automatic Data Processing's payout ratio is 63.05%.

About Automatic Data Processing

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.