Northstar Group Inc. Sells 193 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Northstar Group Inc. cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,398 shares of the business services provider’s stock after selling 193 shares during the quarter. Automatic Data Processing accounts for about 0.8% of Northstar Group Inc.’s portfolio, making the stock its 26th biggest holding. Northstar Group Inc.’s holdings in Automatic Data Processing were worth $4,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. AMG National Trust Bank grew its holdings in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after buying an additional 33 shares in the last quarter. Sentinus LLC grew its stake in Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after purchasing an additional 36 shares in the last quarter. Canton Hathaway LLC grew its stake in Automatic Data Processing by 6.7% in the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock valued at $174,000 after purchasing an additional 37 shares in the last quarter. Finally, Delta Financial Advisors LLC grew its stake in Automatic Data Processing by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock valued at $4,266,000 after purchasing an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Securities raised their price target 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. Stifel Nicolaus raised 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. UBS Group decreased their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday. Mizuho raised 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. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $306.82.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $306.82 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The stock has a 50 day moving average of $308.06 and a 200-day moving average of $302.85. The company has a market capitalization of $124.55 billion, a P/E ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS 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 return on equity of 80.86% and a net margin of 19.76%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.88 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction dated 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 in the company, 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 SEC, which is accessible through this link. Also, 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 value of $458,070.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.