Capital Investment Services of America Inc. Sells 132 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Investment Services of America Inc. lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,512 shares of the business services provider’s stock after selling 132 shares during the period. Capital Investment Services of America Inc.’s holdings in Automatic Data Processing were worth $2,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing during the 4th quarter worth $708,000. CIBC Asset Management Inc increased its position in Automatic Data Processing by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider’s stock worth $45,647,000 after buying an additional 2,787 shares during the period. Toronto Dominion Bank increased its position in Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after buying an additional 21,910 shares during the period. Proficio Capital Partners LLC increased its position in Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after buying an additional 1,117 shares during the period. Finally, Napatree Capital LLC increased its position in Automatic Data Processing by 2.7% during the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock worth $936,000 after buying an additional 84 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADP. TD Securities increased 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. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. UBS Group reduced their target price on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Mizuho increased their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $306.82.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $306.82 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $308.06 and its two-hundred day moving average price is $302.91. The stock has a market cap of $124.55 billion, a PE ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released 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. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous 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, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 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.