Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by 1900 Wealth Management LLC

1900 Wealth Management LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,600 shares of the business services provider’s stock after selling 51 shares during the period. 1900 Wealth Management LLC’s holdings in Automatic Data Processing were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. GAMMA Investing LLC increased its holdings in Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after buying an additional 2,892,660 shares during the period. Norges Bank purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $396,714,000. Capital Research Global Investors boosted its position in Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $342,942,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling 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 on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value 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. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented 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 report on Wednesday, May 21st. Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Mizuho upped their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, UBS Group lowered their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $306.82.

Automatic Data Processing Trading Down 0.9%

Shares of NASDAQ:ADP opened at $306.82 on Monday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The firm has a market capitalization of $124.55 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50 day moving average price is $308.06 and its 200-day moving average price is $302.85.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The firm 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 business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. On average, equities research analysts forecast 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 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. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s payout ratio is currently 63.05%.

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.