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

Aspiriant LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 48.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,227 shares of the business services provider’s stock after selling 1,145 shares during the quarter. Aspiriant LLC’s holdings in Automatic Data Processing were worth $375,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after acquiring an additional 21,910 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after acquiring an additional 1,117 shares during the period. Napatree Capital LLC boosted its holdings in shares of Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock valued at $936,000 after acquiring an additional 84 shares during the period. Brighton Jones LLC boosted its holdings in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Finally, Bank Pictet & Cie Europe AG acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at $957,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $306.77 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $309.19 and its two-hundred day moving average price is $302.92. 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 cap of $124.52 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.19 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Analysts Set New Price Targets

ADP has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group reduced their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. 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 report on Wednesday, May 21st. Finally, Stifel Nicolaus upped their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $307.08.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the business’s 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 owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.