Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Stewart & Patten Co. LLC

Stewart & Patten Co. LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 101,560 shares of the business services provider’s stock after selling 1,076 shares during the quarter. Automatic Data Processing comprises about 3.8% of Stewart & Patten Co. LLC’s holdings, making the stock its 9th biggest position. Stewart & Patten Co. LLC’s holdings in Automatic Data Processing were worth $25,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ADP. Fortitude Family Office LLC bought a new stake in Automatic Data Processing in the fourth quarter worth about $35,000. Pineridge Advisors LLC bought a new stake in Automatic Data Processing in the fourth quarter worth about $39,000. Evolution Advisers Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth about $41,000. Raleigh Capital Management Inc. raised its position in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new stake in Automatic Data Processing in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Barclays boosted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Down 1.3 %

NASDAQ:ADP traded down $3.02 on Monday, hitting $235.67. 2,124,736 shares of the company’s stock traded hands, compared to its average volume of 1,698,438. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The firm has a 50-day moving average price of $245.79 and a 200-day moving average price of $243.86. The company has a market cap of $96.46 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating 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 return on equity of 93.09% and a net margin of 19.56%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.52 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 dividend yield of 2.38%. Automatic Data Processing’s payout ratio is 62.50%.

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.