Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,650 shares of the business services provider’s stock after selling 330 shares during the quarter. Mechanics Bank Trust Department’s holdings in Automatic Data Processing were worth $6,156,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ADP. Norges Bank purchased a new stake in Automatic Data Processing during the fourth quarter worth about $308,321,000. International Assets Investment Management LLC increased its stake in Automatic Data Processing by 22,539.4% during the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after purchasing an additional 930,199 shares during the period. Capital Research Global Investors increased its stake in Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after purchasing an additional 649,791 shares during the period. Ameriprise Financial Inc. increased its stake in Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after purchasing an additional 553,946 shares during the period. Finally, Vanguard Group Inc. increased its stake in Automatic Data Processing by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock worth $9,224,713,000 after purchasing an additional 412,434 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen cut their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Mizuho increased their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.42.

Read Our Latest Stock Analysis on Automatic Data Processing

Automatic Data Processing Trading Down 0.8 %

NASDAQ:ADP traded down $1.93 during mid-day trading on Tuesday, reaching $247.27. The company’s stock had a trading volume of 577,735 shares, compared to its average volume of 1,665,337. The company’s fifty day simple moving average is $245.99 and its two-hundred day simple moving average is $243.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock has a market cap of $101.21 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.73 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.52 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.

Automatic Data Processing Dividend Announcement

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 $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Automatic Data Processing Profile

(Free Report)

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.

Further Reading

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

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