Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,248 shares of the business services provider's stock after selling 2,990 shares during the period. Automatic Data Processing accounts for 3.5% of Hemenway Trust Co LLC's investment portfolio, making the stock its 8th largest holding. Hemenway Trust Co LLC's holdings in Automatic Data Processing were worth $43,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedbush Securities Inc. raised its stake in shares of Automatic Data Processing by 10.1% during the fourth quarter. Wedbush Securities Inc. now owns 7,275 shares of the business services provider's stock worth $2,130,000 after purchasing an additional 667 shares during the last quarter. Aviva PLC raised its position in Automatic Data Processing by 2.8% during the 4th quarter. Aviva PLC now owns 962,810 shares of the business services provider's stock worth $281,843,000 after buying an additional 26,141 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $38,497,000. Broderick Brian C boosted its holdings in shares of Automatic Data Processing by 1.9% in the fourth quarter. Broderick Brian C now owns 58,200 shares of the business services provider's stock valued at $17,037,000 after acquiring an additional 1,082 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC boosted its holdings in shares of Automatic Data Processing by 5.4% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 1,734 shares of the business services provider's stock valued at $508,000 after acquiring an additional 89 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

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Automatic Data Processing Price Performance

Shares of ADP traded down $2.76 during trading hours on Thursday, reaching $291.93. 1,533,806 shares of the company traded hands, compared to its average volume of 1,658,501. The stock has a fifty day simple moving average of $302.79 and a 200 day simple moving average of $297.29. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. The stock has a market capitalization of $118.95 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business 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 dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, 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 can be accessed through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,364 shares of company stock worth $1,613,094. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADP. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $302.30.

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.