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

Park National Corp OH trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,271 shares of the business services provider’s stock after selling 579 shares during the quarter. Park National Corp OH’s holdings in Automatic Data Processing were worth $9,447,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADP. State Street Corp boosted its position in shares of Automatic Data Processing by 2.4% in 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 purchasing an additional 424,328 shares during the period. Geode Capital Management LLC lifted its stake in 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 valued at $2,906,257,000 after buying an additional 286,080 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of 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 acquiring an additional 435,093 shares during the period. Legal & General Group Plc grew its position in shares of Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Automatic Data Processing by 1.3% in 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 valued at $896,197,000 after acquiring an additional 41,709 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.4 %

ADP stock opened at $288.40 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $298.45 and its 200 day moving average price is $277.66. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The company has a market cap of $117.51 billion, a P/E ratio of 30.78, a P/E/G ratio of 3.50 and a beta of 0.79.

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

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $1.54 dividend. The ex-dividend date was Friday, December 13th. 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. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADP. Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Mizuho boosted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,062 shares of company stock worth $12,299,550. 0.21% of the stock is owned by insiders.

Automatic Data Processing Profile

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.