Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Decreased by 1ST Source Bank

1ST Source Bank trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 31,111 shares of the business services provider’s stock after selling 180 shares during the quarter. Automatic Data Processing accounts for 0.5% of 1ST Source Bank’s holdings, making the stock its 29th largest position. 1ST Source Bank’s holdings in Automatic Data Processing were worth $9,107,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC raised its stake in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $41,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $291.76 on Monday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The firm has a market capitalization of $118.88 billion, a PE ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76. The business’s 50 day moving average is $302.32 and its 200-day moving average is $294.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business 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 dividend payout ratio (DPR) is presently 64.23%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction 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 completion of the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock worth $1,762,074 in the last 90 days. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.