Renaissance Investment Group LLC lowered its holdings in Automatic Data Processing (NASDAQ:ADP) by 4.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,210 shares of the business services provider’s stock after selling 667 shares during the quarter. Renaissance Investment Group LLC’s holdings in Automatic Data Processing were worth $2,111,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of The West increased its position in Automatic Data Processing by 1.4% during the 1st quarter. Bank of The West now owns 4,649 shares of the business services provider’s stock worth $743,000 after purchasing an additional 66 shares in the last quarter. BTR Capital Management Inc. increased its position in Automatic Data Processing by 1.3% during the 1st quarter. BTR Capital Management Inc. now owns 5,252 shares of the business services provider’s stock worth $839,000 after purchasing an additional 67 shares in the last quarter. PagnatoKarp Partners LLC increased its position in Automatic Data Processing by 2.5% during the 4th quarter. PagnatoKarp Partners LLC now owns 2,879 shares of the business services provider’s stock worth $380,000 after purchasing an additional 70 shares in the last quarter. Valley National Advisers Inc. increased its position in Automatic Data Processing by 27.5% during the 4th quarter. Valley National Advisers Inc. now owns 325 shares of the business services provider’s stock worth $43,000 after purchasing an additional 70 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its position in Automatic Data Processing by 2.1% during the 4th quarter. Capital Advisors Inc. OK now owns 3,701 shares of the business services provider’s stock worth $485,000 after purchasing an additional 75 shares in the last quarter. 80.48% of the stock is owned by institutional investors.

ADP has been the subject of a number of recent research reports. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Automatic Data Processing has a consensus rating of “Buy” and an average target price of $153.43.

ADP opened at $162.44 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $70.76 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.32 and a beta of 0.96. Automatic Data Processing has a 12 month low of $112.58 and a 12 month high of $164.41.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.16. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. As a group, sell-side analysts forecast that Automatic Data Processing will post 5.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.

In other news, VP John Ayala sold 3,121 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $133.98, for a total value of $418,151.58. Following the transaction, the vice president now directly owns 4,140 shares of the company’s stock, valued at approximately $554,677.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stuart Sackman sold 1,478 shares of Automatic Data Processing stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the completion of the transaction, the vice president now directly owns 24,122 shares in the company, valued at $3,742,045.86. The disclosure for this sale can be found here. Insiders sold a total of 86,721 shares of company stock worth $12,714,980 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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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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