Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,724 shares of the business services provider’s stock after selling 92 shares during the quarter. M&R Capital Management Inc.’s holdings in Automatic Data Processing were worth $680,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Automatic Data Processing by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock worth $9,224,713,000 after acquiring an additional 412,434 shares during the period. Northern Trust Corp boosted its position in shares of Automatic Data Processing by 5.1% during the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock worth $1,420,028,000 after purchasing an additional 288,234 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Automatic Data Processing by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after purchasing an additional 553,946 shares during the period. Finally, Capital Research Global Investors increased its holdings in shares of Automatic Data Processing by 22.5% in the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after purchasing an additional 649,791 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several recent analyst reports. TD Cowen lowered their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Finally, Evercore ISI raised their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Shares of ADP traded down $0.80 during trading hours on Tuesday, reaching $244.16. 425,621 shares of the company traded hands, compared to its average volume of 1,658,705. The stock has a market capitalization of $99.93 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. The stock has a fifty day simple moving average of $245.91 and a 200 day simple moving average of $243.18. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.52 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s payout ratio is currently 62.50%.

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.