Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Huntington National Bank

Huntington National Bank lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 245,953 shares of the business services provider’s stock after selling 3,344 shares during the period. Huntington National Bank’s holdings in Automatic Data Processing were worth $68,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ROI Financial Advisors LLC increased its position in Automatic Data Processing by 12.7% during the third quarter. ROI Financial Advisors LLC now owns 5,726 shares of the business services provider’s stock worth $1,585,000 after buying an additional 645 shares during the period. Plato Investment Management Ltd increased its position in Automatic Data Processing by 1.4% during the third quarter. Plato Investment Management Ltd now owns 26,995 shares of the business services provider’s stock worth $7,463,000 after buying an additional 385 shares during the period. Cable Hill Partners LLC increased its position in Automatic Data Processing by 11.8% during the third quarter. Cable Hill Partners LLC now owns 1,233 shares of the business services provider’s stock worth $343,000 after buying an additional 130 shares during the period. Bell Bank purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $226,000. Finally, ICICI Prudential Asset Management Co Ltd grew its stake in shares of Automatic Data Processing by 18.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 5,323 shares of the business services provider’s stock valued at $1,473,000 after purchasing an additional 827 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $307.50 on Thursday. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The stock has a market cap of $125.29 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. The business has a fifty day moving average of $285.39 and a 200-day moving average of $262.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on ADP. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $289.91.

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.