Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,645 shares of the business services provider’s stock after selling 195 shares during the period. Osborne Partners Capital Management LLC’s holdings in Automatic Data Processing were worth $15,779,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after purchasing an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC grew its position 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 worth $1,090,000 after buying an additional 1,117 shares in the last quarter. Napatree Capital LLC increased its stake in shares of Automatic Data Processing by 2.7% in the fourth 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 last quarter. Brighton Jones LLC raised its holdings in Automatic Data Processing by 92.1% in 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 in the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new stake in Automatic Data Processing in the fourth quarter valued at $957,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADP shares. Mizuho raised their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Morgan Stanley lifted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group cut their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $307.08.

Automatic Data Processing Stock Down 0.3%

NASDAQ:ADP opened at $306.77 on Friday. 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 stock has a 50 day moving average of $309.48 and a 200-day moving average of $302.93. The firm has a market capitalization of $124.52 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.18 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.

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, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the prior year, the business earned $2.88 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.