Arcadia Investment Management Corp MI Sells 1,681 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Arcadia Investment Management Corp MI trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,332 shares of the business services provider’s stock after selling 1,681 shares during the period. Arcadia Investment Management Corp MI’s holdings in Automatic Data Processing were worth $4,073,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing during the 1st quarter worth $30,000. Main Street Group LTD lifted its position in 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 worth $33,000 after acquiring an additional 38 shares during the period. Cyrus J. Lawrence LLC lifted its position in 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 worth $35,000 after acquiring an additional 67 shares during the period. Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares during the period. Finally, Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ADP shares. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus lifted their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $307.08.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the firm’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 directly owned 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.5%

Shares of Automatic Data Processing stock opened at $306.90 on Wednesday. The stock has a market cap of $124.58 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.87 and a beta of 0.76. The stock’s 50 day simple moving average is $312.72 and its 200-day simple moving average is $303.73. 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 current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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.