Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,081 shares of the business services provider’s stock after selling 7,984 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Automatic Data Processing were worth $56,548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADP. AMG National Trust Bank boosted its position in Automatic Data Processing by 0.3% during the fourth 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 in the last quarter. Sentinus LLC raised its stake in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after buying an additional 35 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of Automatic Data Processing by 1.0% during 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 in the last quarter. Canton Hathaway LLC grew its stake in 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 acquiring an additional 37 shares during the period. Finally, Delta Financial Advisors LLC increased its holdings in Automatic Data Processing by 0.3% in the 4th quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock worth $4,266,000 after acquiring an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, 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 transaction of $140,120.92. Following the completion of the sale, the vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction 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 owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Securities upped their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. UBS Group reduced their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday. Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $306.82.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $307.91 on Tuesday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The stock has a market cap of $124.99 billion, a PE ratio of 32.11, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $308.69 and a 200 day moving average price of $302.86.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the business earned $2.88 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is currently 63.05%.

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.