Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 22,445 shares of the business services provider’s stock after selling 879 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Automatic Data Processing were worth $6,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% during 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 during the period. Hexagon Capital Partners LLC increased its position in 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. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Capital Performance Advisors LLP acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays increased their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group lifted 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ ADP opened at $297.10 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The firm has a market cap of $121.06 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $297.13 and its 200-day simple moving average is $282.10.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.07%. Automatic Data Processing’s payout ratio is 65.74%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock worth $12,604,872 over the last 90 days. Insiders own 0.21% of the company’s stock.

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.