Westwood Holdings Group Inc. trimmed its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 38.9% during the second quarter, HoldingsChannel.com reports. The firm owned 5,721 shares of the business services provider’s stock after selling 3,642 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Automatic Data Processing were worth $946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after purchasing an additional 644,178 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Automatic Data Processing by 1.2% in the 2nd quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock worth $5,117,899,000 after buying an additional 368,108 shares during the last quarter. Morgan Stanley boosted its stake in shares of Automatic Data Processing by 6.5% in the 2nd quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after buying an additional 516,484 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Automatic Data Processing by 1.3% in the 1st quarter. Northern Trust Corp now owns 6,692,907 shares of the business services provider’s stock worth $1,069,125,000 after buying an additional 86,449 shares during the last quarter. Finally, Fundsmith LLP boosted its stake in shares of Automatic Data Processing by 1.1% in the 1st quarter. Fundsmith LLP now owns 5,994,171 shares of the business services provider’s stock worth $957,509,000 after buying an additional 66,480 shares during the last quarter. Institutional investors and hedge funds own 80.26% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Friday, June 21st. ValuEngine downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their target price on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Jefferies Financial Group lifted their target price on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $176.10.

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the transaction, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the transaction, the vice president now directly owns 14,896 shares in the company, valued at approximately $2,413,747.84. The disclosure for this sale can be found here. Insiders have sold 57,846 shares of company stock worth $9,395,534 over the last three months. 0.33% of the stock is currently owned by insiders.

NASDAQ ADP traded up $0.81 during trading hours on Monday, hitting $160.11. 471,180 shares of the company were exchanged, compared to its average volume of 1,868,605. The stock has a 50-day moving average price of $166.00 and a 200 day moving average price of $162.79. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $174.50. The stock has a market cap of $69.15 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Automatic Data Processing will post 6.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.97%. Automatic Data Processing’s payout ratio is currently 57.98%.

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.

Featured Article: Limitations of analyzing profit margin

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.