Livforsakringsbolaget Skandia Omsesidigt Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,759 shares of the business services provider’s stock after selling 200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Automatic Data Processing were worth $843,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ADP. Littlejohn Financial Services Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at about $708,000. CIBC Asset Management Inc grew its position in shares of Automatic Data Processing by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider’s stock valued at $45,647,000 after purchasing an additional 2,787 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after purchasing an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Napatree Capital LLC grew its position in shares of Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock valued at $936,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 2.5%

Shares of NASDAQ ADP opened at $318.57 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 company has a market cap of $129.31 billion, a P/E ratio of 33.22, a PEG ratio of 3.62 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. The firm has a 50-day simple moving average of $306.18 and a two-hundred day simple moving average of $302.73.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is currently 63.05%.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ADP shares. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $305.64.

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.