Dynamic Advisor Solutions LLC Lowers Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Dynamic Advisor Solutions LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,333 shares of the business services provider’s stock after selling 264 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Automatic Data Processing were worth $2,241,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Main Street Group LTD raised its position in Automatic Data Processing by 50.7% during 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 period. Cyrus J. Lawrence LLC raised its position in shares of Automatic Data Processing by 121.8% in 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 during the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $38,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction 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 $3,686,852.74. This represents 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.

Automatic Data Processing Trading Up 0.4%

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 has a market cap 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. The company has a 50-day moving average of $308.69 and a two-hundred day moving average of $302.86. 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 posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Ratings Changes

ADP has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday. Stifel Nicolaus increased 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. 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. Mizuho increased 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. Finally, TD Securities increased their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $306.82.

About Automatic Data Processing

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.