State of Tennessee Department of Treasury Sells 6,746 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

State of Tennessee Department of Treasury cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,197 shares of the business services provider's stock after selling 6,746 shares during the quarter. State of Tennessee Department of Treasury's holdings in Automatic Data Processing were worth $46,016,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AMG National Trust Bank increased its stake in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after acquiring an additional 33 shares during the last quarter. Aspiriant LLC increased its stake in Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after acquiring an additional 36 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after acquiring an additional 36 shares during the last quarter. Riversedge Advisors LLC increased its stake in Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock worth $268,000 after acquiring an additional 37 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its stake in Automatic Data Processing by 2.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock worth $539,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their position. 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 the firm's stock in a transaction dated 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 in the company, valued at $3,686,852.74. This represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,775 shares of company stock valued at $1,447,893. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group lifted their target price 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 lifted their target price 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, Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $302.30.

Automatic Data Processing Trading Down 0.9 %

ADP traded down $2.79 during trading hours on Friday, reaching $291.76. 1,481,853 shares of the company's stock traded hands, compared to its average volume of 1,684,385. The firm has a 50-day moving average price of $299.57 and a 200 day moving average price of $298.52. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $118.88 billion, a PE ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate 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 predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 64.23%.

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.