Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,263 shares of the business services provider’s stock after selling 90 shares during the period. Private Wealth Partners LLC’s holdings in Automatic Data Processing were worth $386,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Segment Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 1.5% during the first quarter. Segment Wealth Management LLC now owns 59,232 shares of the business services provider’s stock valued at $18,097,000 after purchasing an additional 869 shares during the last quarter. Abundance Wealth Counselors increased its stake in Automatic Data Processing by 5.4% in the 1st quarter. Abundance Wealth Counselors now owns 2,576 shares of the business services provider’s stock worth $787,000 after purchasing an additional 133 shares in the last quarter. Alta Capital Management LLC raised its holdings in Automatic Data Processing by 9.8% during the 1st quarter. Alta Capital Management LLC now owns 9,426 shares of the business services provider’s stock worth $2,880,000 after buying an additional 841 shares during the period. ORG Partners LLC lifted its stake in Automatic Data Processing by 28.0% during the first quarter. ORG Partners LLC now owns 1,029 shares of the business services provider’s stock valued at $316,000 after buying an additional 225 shares in the last quarter. Finally, Silver Oak Securities Incorporated boosted its holdings in shares of Automatic Data Processing by 4.5% in the first quarter. Silver Oak Securities Incorporated now owns 2,920 shares of the business services provider’s stock worth $878,000 after buying an additional 127 shares during the period. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the business’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 transaction, the vice president now directly owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADP. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Morgan Stanley lifted 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 research report on Tuesday. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Mizuho raised their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Finally, TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.08.

Automatic Data Processing Price Performance

Shares of ADP opened at $306.77 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $124.52 billion, a PE ratio of 31.40, a PEG ratio of 3.18 and a beta of 0.79. The firm’s 50 day moving average price is $309.48 and its 200 day moving average price is $302.93. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.

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.