Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Park National Corp OH

Park National Corp OH decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 32,271 shares of the business services provider’s stock after selling 579 shares during the period. Park National Corp OH’s holdings in Automatic Data Processing were worth $9,447,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ADP. State Street Corp raised its holdings in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after buying an additional 424,328 shares during the period. Geode Capital Management LLC lifted its stake in shares of Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after acquiring an additional 286,080 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the last quarter. Legal & General Group Plc grew its stake in Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after purchasing an additional 139,561 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Automatic Data Processing by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after purchasing an additional 41,709 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the sale, the vice president now directly owns 5,958 shares in the company, valued at approximately $1,723,589.82. The trade was a 14.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,062 shares of company stock worth $12,299,550 in the last three months. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADP shares. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Barclays upped their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $288.40 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $117.51 billion, a PE ratio of 30.78, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The business’s fifty day moving average price is $298.45 and its two-hundred day moving average price is $277.66.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio is 65.74%.

About Automatic Data Processing

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