Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,677 shares of the business services provider’s stock after purchasing an additional 985 shares during the period. OLD National Bancorp IN’s holdings in Automatic Data Processing were worth $4,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC boosted its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $291.27.

Automatic Data Processing Trading Up 0.9 %

ADP opened at $303.26 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $297.23 and its two-hundred day simple moving average is $283.77. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The firm has a market capitalization of $123.57 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. Insiders own 0.21% of the company’s stock.

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.