Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 229,587 shares of the business services provider’s stock after selling 15,984 shares during the quarter. Bessemer Group Inc. owned 0.06% of Automatic Data Processing worth $70,145,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMG National Trust Bank raised its stake in shares of Automatic Data Processing by 0.3% during the 4th 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 during the last quarter. Sentinus LLC grew its stake in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after acquiring an additional 35 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after acquiring an additional 36 shares in the last quarter. Main Street Group LTD increased its holdings 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 valued at $33,000 after acquiring an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. raised its position in Automatic Data Processing by 2.2% during the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider’s stock worth $530,000 after acquiring an additional 38 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $298.19 on Thursday. The firm has a 50-day moving average of $310.13 and a two-hundred day moving average of $303.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $121.04 billion, a P/E ratio of 30.52, a PEG ratio of 3.23 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year 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 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the business’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 completion of the sale, the vice president now directly owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 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. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADP. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. TD Securities lifted their target price 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. Morgan Stanley boosted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.