Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Trust Point Inc.

Trust Point Inc. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,501 shares of the business services provider’s stock after selling 593 shares during the quarter. Trust Point Inc.’s holdings in Automatic Data Processing were worth $459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Automatic Data Processing by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock valued at $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC grew its position in shares of Automatic Data Processing by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock valued at $3,098,305,000 after purchasing an additional 65,965 shares during the period. Northern Trust Corp grew its position in shares of Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after purchasing an additional 902,354 shares during the period. Capital Research Global Investors grew its position in shares of 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 period. Finally, Invesco Ltd. grew its position in shares of Automatic Data Processing by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock valued at $1,137,710,000 after purchasing an additional 219,032 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing 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 directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing 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 owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports 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 research report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group decreased their price target 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. Finally, TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $306.82.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $307.91 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $308.69 and its two-hundred day moving average is $302.86. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The company has a market capitalization of $124.99 billion, a PE ratio of 32.11, a price-to-earnings-growth 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 analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

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.