Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Trust Point Inc.

Trust Point Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.3% in the first quarter, Holdings Channel.com reports. The fund owned 1,501 shares of the business services provider’s stock after selling 593 shares during the period. Trust Point Inc.’s holdings in Automatic Data Processing were worth $459,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. AMG National Trust Bank grew its holdings in shares of Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares in the last quarter. Sentinus LLC grew its holdings in shares of Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after purchasing an additional 36 shares in the last quarter. Canton Hathaway LLC grew its holdings in shares of Automatic Data Processing by 6.7% in the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock valued at $174,000 after purchasing an additional 37 shares in the last quarter. Finally, Delta Financial Advisors LLC grew its holdings in shares of Automatic Data Processing by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock valued at $4,266,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction 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. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on ADP shares. 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 boosted their price objective 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 shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $306.82.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $307.91 on Tuesday. The stock has a market cap of $124.99 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The company’s 50-day moving average price is $308.69 and its 200 day moving average price is $302.86. 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 issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 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 analysts’ expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.88 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s payout ratio is 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.