Vontobel Holding Ltd. Sells 1,580 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Vontobel Holding Ltd. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,714 shares of the business services provider’s stock after selling 1,580 shares during the quarter. Vontobel Holding Ltd.’s holdings in Automatic Data Processing were worth $699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. Almanack Investment Partners LLC. boosted its stake in Automatic Data Processing by 20.2% in the 4th quarter. Almanack Investment Partners LLC. now owns 2,892 shares of the business services provider’s stock valued at $512,000 after purchasing an additional 487 shares during the period. Baker Tilly Financial LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $436,000. Community Financial Services Group LLC boosted its stake in Automatic Data Processing by 7.8% in the 4th quarter. Community Financial Services Group LLC now owns 3,141 shares of the business services provider’s stock valued at $553,000 after purchasing an additional 228 shares during the period. Daiwa Securities Group Inc. boosted its stake in Automatic Data Processing by 45.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,438 shares of the business services provider’s stock valued at $6,597,000 after purchasing an additional 11,666 shares during the period. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $1,170,000. Institutional investors own 79.29% of the company’s stock.

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 4,583 shares of the company’s stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $200.00, for a total value of $916,600.00. Following the sale, the vice president now owns 5,041 shares in the company, valued at approximately $1,008,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stuart Sackman sold 576 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $185.00, for a total value of $106,560.00. Following the completion of the sale, the vice president now owns 23,221 shares in the company, valued at approximately $4,295,885. The disclosure for this sale can be found here. Insiders sold a total of 6,975 shares of company stock worth $1,374,522 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

A number of research firms have recently weighed in on ADP. Mizuho upped their target price on Automatic Data Processing from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, May 27th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Automatic Data Processing from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. Morgan Stanley upped their target price on Automatic Data Processing from $171.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Jefferies Financial Group upped their target price on Automatic Data Processing from $197.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, March 24th. Finally, Citigroup upped their target price on Automatic Data Processing from $190.00 to $212.00 in a research report on Monday, May 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $177.81.

Shares of ADP opened at $200.06 on Friday. Automatic Data Processing, Inc. has a 12-month low of $127.31 and a 12-month high of $200.51. The stock has a 50-day moving average price of $193.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $85.13 billion, a PE ratio of 34.67, a PEG ratio of 2.76 and a beta of 0.71.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Tuesday, April 27th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. Automatic Data Processing had a return on equity of 44.23% and a net margin of 16.88%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 5.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 11th will be given a $0.93 dividend. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.86%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.84%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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