The Manufacturers Life Insurance Company Sells 1,486 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

The Manufacturers Life Insurance Company reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 245,804 shares of the business services provider's stock after selling 1,486 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Automatic Data Processing worth $71,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Virtu Financial LLC increased its holdings in shares of Automatic Data Processing by 202.7% during the 3rd quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock worth $1,348,000 after buying an additional 3,261 shares during the last quarter. Tudor Financial Inc. purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth about $310,000. Anchor Investment Management LLC lifted its stake in shares of Automatic Data Processing by 7.0% in the 3rd quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock valued at $4,257,000 after purchasing an additional 1,001 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Automatic Data Processing by 3.5% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock worth $2,753,000 after purchasing an additional 337 shares during the period. Finally, World Investment Advisors LLC increased its position in Automatic Data Processing by 22.6% during the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock worth $2,066,000 after purchasing an additional 1,378 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $4.88 during trading on Friday, reaching $303.57. The stock had a trading volume of 1,720,848 shares, compared to its average volume of 1,687,165. The firm has a market capitalization of $123.69 billion, a price-to-earnings ratio of 31.65, a P/E/G 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. The stock has a fifty day simple moving average of $298.19 and a two-hundred day simple moving average of $298.69.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insider Activity at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock worth $1,447,893 over the last three months. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

ADP has been the topic of a number of recent research reports. 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. Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. TD Securities upped their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $303.55.

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.