Van Cleef Asset Management Inc reduced its position in shares of Automatic Data Processing (NASDAQ:ADP) by 0.7% in the first quarter, HoldingsChannel reports. The firm owned 14,961 shares of the business services provider’s stock after selling 100 shares during the period. Van Cleef Asset Management Inc’s holdings in Automatic Data Processing were worth $2,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. AlphaMark Advisors LLC lifted its stake in Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Lake Point Wealth Management bought a new stake in Automatic Data Processing in the fourth quarter worth $26,000. Horan Capital Advisors LLC. bought a new stake in Automatic Data Processing in the first quarter worth $31,000. Paragon Capital Management LLC bought a new stake in Automatic Data Processing in the first quarter worth $32,000. Finally, C J Advisory Inc bought a new stake in Automatic Data Processing in the first quarter worth $32,000. Hedge funds and other institutional investors own 79.79% of the company’s stock.

Several brokerages have recently commented on ADP. Barclays upped their price objective on shares of Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Sanford C. Bernstein downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $159.92.

ADP stock traded up $0.07 during trading on Wednesday, reaching $165.18. The company had a trading volume of 46,398 shares, compared to its average volume of 1,894,200. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $168.87. The company has a market cap of $71.94 billion, a P/E ratio of 37.98, a PEG ratio of 2.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. Automatic Data Processing’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing will post 5.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s payout ratio is currently 72.64%.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total value of $281,507.06. Following the sale, the vice president now owns 26,220 shares in the company, valued at $4,326,562.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jan Siegmund sold 27,272 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the completion of the sale, the insider now owns 77,595 shares in the company, valued at approximately $12,803,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,456 shares of company stock valued at $5,010,669. 0.33% of the stock is owned by insiders.

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Automatic Data Processing Company 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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