OneDigital Investment Advisors LLC Reduces Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

OneDigital Investment Advisors LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the first quarter, Holdings Channel reports. The fund owned 43,241 shares of the business services provider’s stock after selling 1,097 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Automatic Data Processing were worth $13,211,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ADP. GAMMA Investing LLC boosted its position in Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock valued at $886,345,000 after buying an additional 2,892,660 shares during the last quarter. Norges Bank acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $455,993,000. Winslow Capital Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at about $396,714,000. Capital Research Global Investors boosted its holdings in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Automatic Data Processing during the 4th quarter valued at approximately $342,942,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president directly owned 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $308.96 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The company has a market cap of $125.41 billion, a P/E ratio of 31.62, a PEG ratio of 2.84 and a beta of 0.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $311.86 and a two-hundred day moving average of $303.33.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $1.54 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. TD Securities upped their target price 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. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th. UBS Group reduced 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 research note on Friday, June 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $307.08.

Automatic Data Processing Company 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.