Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,950 shares of the business services provider’s stock after selling 138 shares during the quarter. Tompkins Financial Corp’s holdings in Automatic Data Processing were worth $3,205,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. RDA Financial Network acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $1,508,000. Goldstone Financial Group LLC grew its stake in Automatic Data Processing by 9.4% during the 4th quarter. Goldstone Financial Group LLC now owns 886 shares of the business services provider’s stock valued at $259,000 after acquiring an additional 76 shares in the last quarter. Empirical Asset Management LLC grew its stake in Automatic Data Processing by 71.1% during the 4th quarter. Empirical Asset Management LLC now owns 31,983 shares of the business services provider’s stock valued at $9,362,000 after acquiring an additional 13,287 shares in the last quarter. JGP Wealth Management LLC raised its holdings in Automatic Data Processing by 0.6% in the 4th quarter. JGP Wealth Management LLC now owns 68,760 shares of the business services provider’s stock valued at $20,128,000 after acquiring an additional 405 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Automatic Data Processing by 2.9% in the 4th quarter. Ritholtz Wealth Management now owns 19,446 shares of the business services provider’s stock worth $5,692,000 after purchasing an additional 552 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last three months. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 1.0 %

Shares of NASDAQ:ADP opened at $296.23 on Friday. The firm has a market capitalization of $120.70 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. 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 firm’s 50-day moving average is $298.24 and its two-hundred day moving average is $279.45.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the firm earned $2.08 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS 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 paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s payout ratio is 65.74%.

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.