Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 3.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 21,659 shares of the business services provider’s stock after selling 736 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Automatic Data Processing were worth $5,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in Automatic Data Processing by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after purchasing an additional 198,008 shares during the last quarter. Northern Trust Corp grew its stake in Automatic Data Processing by 5.1% during the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock worth $1,420,028,000 after buying an additional 288,234 shares during the last quarter. Wellington Management Group LLP grew its stake in Automatic Data Processing by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock worth $1,261,327,000 after buying an additional 77,187 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after buying an additional 553,946 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after buying an additional 905,043 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADP. JPMorgan Chase & Co. reduced their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $255.42.

Get Our Latest Analysis on Automatic Data Processing

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 1.0 %

NASDAQ:ADP traded down $2.59 during trading hours on Friday, hitting $248.90. 973,940 shares of the company’s stock traded hands, compared to its average volume of 1,279,904. The firm has a market cap of $101.87 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.74 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average price is $246.17 and its two-hundred day moving average price is $241.31.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate 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%. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 62.50%.

Automatic Data Processing Company 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.

Featured Stories

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.