Trust Co. of Oklahoma Has $501,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Trust Co. of Oklahoma lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812 shares of the business services provider’s stock after selling 204 shares during the quarter. Trust Co. of Oklahoma’s holdings in Automatic Data Processing were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. SageView Advisory Group LLC raised its position in Automatic Data Processing by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 2,399 shares of the business services provider’s stock valued at $572,000 after buying an additional 1,402 shares during the last quarter. Nomura Holdings Inc. bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $1,933,000. Duncan Williams Asset Management LLC bought a new position in Automatic Data Processing in the first quarter valued at approximately $292,000. CWM LLC grew its stake in Automatic Data Processing by 1.9% in the first quarter. CWM LLC now owns 18,197 shares of the business services provider’s stock valued at $4,544,000 after purchasing an additional 334 shares in the last quarter. Finally, Somerset Trust Co grew its stake in Automatic Data Processing by 2.0% in the first quarter. Somerset Trust Co now owns 19,029 shares of the business services provider’s stock valued at $4,752,000 after purchasing an additional 366 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $0.55 on Tuesday, reaching $290.45. The stock had a trading volume of 677,861 shares, compared to its average volume of 1,625,060. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average of $274.20 and a two-hundred day moving average of $255.74. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.00. The company has a market cap of $118.88 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm posted $1.89 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Activity

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADP shares. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $267.83.

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.