Shell Asset Management Co. Sells 9,012 Shares of Automatic Data Processing (NASDAQ:ADP)

Shell Asset Management Co. lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 12.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,566 shares of the business services provider’s stock after selling 9,012 shares during the quarter. Shell Asset Management Co.’s holdings in Automatic Data Processing were worth $8,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Klingenstein Fields & Co. LLC increased its holdings in Automatic Data Processing by 1.4% during the fourth quarter. Klingenstein Fields & Co. LLC now owns 4,257 shares of the business services provider’s stock worth $726,000 after buying an additional 57 shares during the last quarter. Iberiabank Corp boosted its position in Automatic Data Processing by 2.4% during the fourth quarter. Iberiabank Corp now owns 2,546 shares of the business services provider’s stock worth $434,000 after purchasing an additional 59 shares during the period. Corundum Group Inc. boosted its position in Automatic Data Processing by 3.9% during the fourth quarter. Corundum Group Inc. now owns 1,584 shares of the business services provider’s stock worth $270,000 after purchasing an additional 60 shares during the period. Shine Investment Advisory Services Inc. boosted its position in Automatic Data Processing by 9.4% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 734 shares of the business services provider’s stock worth $125,000 after purchasing an additional 63 shares during the period. Finally, Beaumont Financial Partners LLC boosted its position in Automatic Data Processing by 1.7% during the fourth quarter. Beaumont Financial Partners LLC now owns 3,995 shares of the business services provider’s stock worth $681,000 after purchasing an additional 65 shares during the period. 80.30% of the stock is currently owned by institutional investors.

ADP stock traded up $1.55 during midday trading on Friday, reaching $134.87. The company had a trading volume of 2,198,780 shares, compared to its average volume of 2,551,071. The company has a market capitalization of $57.30 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The stock has a 50 day moving average price of $139.02 and a 200-day moving average price of $158.29. Automatic Data Processing has a 1-year low of $103.11 and a 1-year high of $182.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.92 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.92. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Automatic Data Processing had a return on equity of 47.51% and a net margin of 17.20%. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, research analysts anticipate that Automatic Data Processing will post 5.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Thursday, June 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.79%.

A number of equities analysts have commented on ADP shares. Bank of America cut shares of Automatic Data Processing from a “neutral” rating to an “underperform” rating and set a $132.00 price objective for the company. in a research report on Monday, May 18th. JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $189.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Cfra reduced their price objective on shares of Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets reduced their target price on shares of Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating for the company in a research report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $166.50.

In related news, VP Brian L. Michaud sold 250 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $140.23, for a total value of $35,057.50. Following the completion of the transaction, the vice president now owns 5,412 shares of the company’s stock, valued at $758,924.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Automatic Data Processing Profile

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

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

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