Fundsmith Investment Services LTD. Sells 114,621 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fundsmith Investment Services LTD. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,720,076 shares of the business services provider's stock after selling 114,621 shares during the period. Automatic Data Processing accounts for about 6.5% of Fundsmith Investment Services LTD.'s investment portfolio, making the stock its 4th largest position. Fundsmith Investment Services LTD. owned about 0.42% of Automatic Data Processing worth $503,518,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADP. Norges Bank purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $455,993,000. Winslow Capital Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth $396,714,000. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 26.9% during the 4th 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 last quarter. Raymond James Financial Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $342,942,000. Finally, Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after purchasing an additional 1,087,814 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 0.3 %

ADP traded up $0.92 during trading hours on Friday, reaching $308.01. 851,684 shares of the company's stock traded hands, compared to its average volume of 1,692,150. The firm has a 50-day moving average price of $297.34 and a 200 day moving average price of $299.24. The firm has a market capitalization of $125.03 billion, a PE ratio of 32.12, a PEG ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84.

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 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. Automatic Data Processing's payout ratio is 63.05%.

Analyst Ratings Changes

ADP has been the subject of a number of research reports. TD Securities increased their price target on Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. Finally, 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 report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $303.55.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were 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 approximately $3,686,852.74. This trade represents a 11.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 2,451 shares of company stock worth $743,024. Company insiders own 0.21% of the company's stock.

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.