Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,858 shares of the business services provider’s stock after selling 4,867 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Automatic Data Processing were worth $5,762,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Sterling Investment Counsel LLC acquired a new stake in Automatic Data Processing during the 1st quarter valued at approximately $257,000. Global X Japan Co. Ltd. lifted its holdings in Automatic Data Processing by 13.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 2,038 shares of the business services provider’s stock worth $623,000 after buying an additional 241 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in Automatic Data Processing by 6.2% during the 1st quarter. Premier Path Wealth Partners LLC now owns 3,407 shares of the business services provider’s stock worth $1,041,000 after buying an additional 200 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Automatic Data Processing by 0.3% during the 1st quarter. Johnson Investment Counsel Inc. now owns 96,427 shares of the business services provider’s stock worth $29,461,000 after buying an additional 293 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Automatic Data Processing by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 47,675 shares of the business services provider’s stock worth $14,566,000 after buying an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, 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 value of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, 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 link. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Down 0.2%

Shares of Automatic Data Processing stock opened at $306.26 on Friday. The business’s fifty day moving average price is $309.61 and its two-hundred day moving average price is $302.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $124.32 billion, a P/E ratio of 31.35, a PEG ratio of 3.18 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. 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 payout ratio is currently 63.05%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. Mizuho increased their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. TD Securities increased their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. 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. Morgan Stanley increased their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Stifel Nicolaus raised their price target on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $307.08.

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.