Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Whittier Trust Co.

Whittier Trust Co. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,443 shares of the business services provider’s stock after selling 1,659 shares during the quarter. Whittier Trust Co.’s holdings in Automatic Data Processing were worth $5,834,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ADP. BlueSpruce Investments LP bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $365,757,000. Norges Bank bought a new stake in Automatic Data Processing during the 4th quarter valued at $308,321,000. Capital Research Global Investors raised its stake in Automatic Data Processing by 22.5% during the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after acquiring an additional 649,791 shares in the last quarter. Nordea Investment Management AB raised its position in Automatic Data Processing by 27.7% during the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after acquiring an additional 552,096 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP traded up $1.50 during trading hours on Thursday, reaching $274.18. 266,064 shares of the company traded hands, compared to its average volume of 1,641,115. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $276.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $112.22 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The stock’s fifty day moving average is $251.62 and its 200 day moving average is $248.46.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company 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 $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.04%. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of recent research reports. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen reduced their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Finally, Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $265.36.

Automatic Data Processing Company 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.