Mn Services Vermogensbeheer B.V. Sells 3,700 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mn Services Vermogensbeheer B.V. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,565 shares of the business services provider’s stock after selling 3,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Automatic Data Processing were worth $38,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. McAdam LLC grew its stake in shares of Automatic Data Processing by 18.5% during the second quarter. McAdam LLC now owns 1,682 shares of the business services provider’s stock worth $401,000 after acquiring an additional 262 shares during the last quarter. West Oak Capital LLC grew its stake in shares of Automatic Data Processing by 0.3% during the second quarter. West Oak Capital LLC now owns 15,950 shares of the business services provider’s stock worth $3,807,000 after acquiring an additional 50 shares during the last quarter. Everhart Financial Group Inc. grew its stake in shares of Automatic Data Processing by 13.6% during the second quarter. Everhart Financial Group Inc. now owns 1,857 shares of the business services provider’s stock worth $443,000 after acquiring an additional 223 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Automatic Data Processing by 38.2% during the second quarter. Premier Path Wealth Partners LLC now owns 2,952 shares of the business services provider’s stock worth $705,000 after acquiring an additional 816 shares during the last quarter. Finally, Catalina Capital Group LLC grew its stake in shares of Automatic Data Processing by 5.3% during the second quarter. Catalina Capital Group LLC now owns 1,462 shares of the business services provider’s stock worth $349,000 after acquiring an additional 74 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $0.22 during trading hours on Friday, reaching $269.60. The company had a trading volume of 1,206,702 shares, compared to its average volume of 1,658,561. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $270.99. The firm has a market cap of $110.34 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The business’s 50 day moving average price is $250.49 and its 200-day moving average price is $248.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the company posted $1.89 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADP shares. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Finally, Bank of America upped their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $265.36.

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.