Reynders McVeigh Capital Management LLC Has $35.02 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Reynders McVeigh Capital Management LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,643 shares of the business services provider's stock after selling 3,110 shares during the period. Automatic Data Processing makes up approximately 1.8% of Reynders McVeigh Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Reynders McVeigh Capital Management LLC's holdings in Automatic Data Processing were worth $35,023,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Littlejohn Financial Services Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth $708,000. Bath Savings Trust Co raised its holdings in shares of Automatic Data Processing by 2.0% in the 4th quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider's stock valued at $29,068,000 after purchasing an additional 1,951 shares during the period. Principal Financial Group Inc. lifted its position in shares of Automatic Data Processing by 4.5% in the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider's stock valued at $146,581,000 after buying an additional 22,766 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Automatic Data Processing by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider's stock worth $194,117,000 after acquiring an additional 51,828 shares during the period. Finally, Relyea Zuckerberg Hanson LLC boosted its stake in shares of Automatic Data Processing by 121.7% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider's stock worth $3,776,000 after acquiring an additional 7,080 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus price target of $302.30.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $0.86 during midday trading on Friday, hitting $293.28. 1,667,100 shares of the company traded hands, compared to its average volume of 1,676,839. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $119.50 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.62 and a beta of 0.74. The firm's fifty day moving average price is $301.52 and its 200-day moving average price is $298.01.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.10%. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Insiders Place Their Bets

In related news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing 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 directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock valued at $1,447,893 in the last ninety days. 0.21% of the stock is currently owned by insiders.

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.