Associated Banc Corp Has $2.30 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Associated Banc Corp lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,861 shares of the business services provider’s stock after selling 38 shares during the quarter. Associated Banc Corp’s holdings in Automatic Data Processing were worth $2,301,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock worth $1,762,074 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

Shares of ADP stock opened at $291.76 on Friday. The firm has a market capitalization of $118.88 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $302.32 and its 200 day simple moving average is $294.58.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $296.18.

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.