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

Copeland Capital Management LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 46,181 shares of the business services provider’s stock after selling 965 shares during the period. Copeland Capital Management LLC’s holdings in Automatic Data Processing were worth $14,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Main Street Group LTD lifted its holdings in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 67 shares in the last quarter. Abound Wealth Management lifted its holdings in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $303.45 on Friday. The company has a 50-day moving average of $310.53 and a 200-day moving average of $303.06. The company has a market capitalization of $123.18 billion, a P/E ratio of 31.06, a PEG ratio of 3.14 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. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is currently 63.05%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ADP shares. Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Stifel Nicolaus boosted 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. Morgan Stanley boosted 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, June 17th. UBS Group cut their price objective 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. Finally, TD Securities boosted 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $307.08.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the business’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 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.

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.