Armstrong Henry H Associates Inc. Cuts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Armstrong Henry H Associates Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,790 shares of the business services provider’s stock after selling 153 shares during the period. Automatic Data Processing makes up approximately 0.4% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 15th largest position. Armstrong Henry H Associates Inc.’s holdings in Automatic Data Processing were worth $4,519,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. AMG National Trust Bank increased its position in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after purchasing an additional 33 shares during the last quarter. Sentinus LLC boosted its holdings in shares of Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after buying an additional 35 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after buying an additional 36 shares during the period. Optas LLC boosted its holdings in shares of Automatic Data Processing by 3.4% in the 4th quarter. Optas LLC now owns 1,114 shares of the business services provider’s stock valued at $326,000 after buying an additional 37 shares during the period. Finally, Canton Hathaway LLC boosted its holdings in shares of Automatic Data Processing by 6.7% in the 4th quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock valued at $174,000 after buying an additional 37 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.3%

Shares of NASDAQ:ADP opened at $325.22 on Friday. The company has a 50 day moving average of $303.74 and a 200-day moving average of $301.74. The firm has a market cap of $132.01 billion, a P/E ratio of 33.91, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $327.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its 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 business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm earned $2.88 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.89%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ADP shares. Wall Street Zen lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Finally, UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $305.64.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock worth $743,024 over the last 90 days. 0.21% of the stock is owned by company insiders.

Automatic Data Processing 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.