Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Aspiriant LLC

Aspiriant LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 48.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,227 shares of the business services provider’s stock after selling 1,145 shares during the period. Aspiriant LLC’s holdings in Automatic Data Processing were worth $375,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% in the fourth 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 last quarter. Cyrus J. Lawrence LLC lifted its position in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares in the last quarter. Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.3%

Shares of NASDAQ:ADP opened at $306.77 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $309.19 and a 200 day simple moving average of $302.92. The firm has a market cap of $124.52 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.19 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date 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

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Mizuho lifted their price target 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, June 13th. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday. TD Securities lifted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Finally, UBS Group dropped 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. 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $307.08.

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.