Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by 1ST Source Bank

1ST Source Bank cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,111 shares of the business services provider’s stock after selling 180 shares during the period. Automatic Data Processing accounts for approximately 0.5% of 1ST Source Bank’s investment portfolio, making the stock its 29th largest holding. 1ST Source Bank’s holdings in Automatic Data Processing were worth $9,107,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its stake in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Automatic Data Processing by 8.2% in the third quarter. Natixis Advisors LLC now owns 282,639 shares of the business services provider’s stock worth $78,215,000 after purchasing an additional 21,420 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Automatic Data Processing in the third quarter worth $50,000. Concord Asset Management LLC VA grew its stake in shares of Automatic Data Processing by 14.2% in the third quarter. Concord Asset Management LLC VA now owns 7,782 shares of the business services provider’s stock worth $2,153,000 after purchasing an additional 967 shares in the last quarter. Finally, Claro Advisors LLC grew its stake in shares of Automatic Data Processing by 42.0% in the third quarter. Claro Advisors LLC now owns 1,315 shares of the business services provider’s stock worth $364,000 after purchasing an additional 389 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

NASDAQ:ADP opened at $291.76 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. 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 price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock has a fifty day simple moving average of $302.32 and a 200 day simple moving average of $294.74.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Analyst Ratings Changes

Several research firms have recently issued reports on ADP. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their target price 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. Two 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. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $296.18.

About Automatic Data Processing

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.