Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Strategic Blueprint LLC

Strategic Blueprint LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,911 shares of the business services provider’s stock after selling 1,207 shares during the quarter. Strategic Blueprint LLC’s holdings in Automatic Data Processing were worth $890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Main Street Group LTD boosted its stake in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares during the last quarter. Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 67 shares during the last quarter. Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Automatic Data Processing in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ADP. UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Mizuho upped their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Morgan Stanley upped their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $307.08.

Automatic Data Processing Stock Up 1.3%

NASDAQ:ADP opened at $308.96 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $312.20 and its two-hundred day moving average is $303.53. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The stock has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the company earned $2.88 EPS. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $1.54 per share. The ex-dividend date was Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president directly owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.