Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,579 shares of the business services provider’s stock after buying an additional 273 shares during the quarter. Whittier Trust Co.’s holdings in Automatic Data Processing were worth $7,195,000 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 stake in shares of Automatic Data Processing in the third quarter valued at $26,000. Dunhill Financial LLC grew its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing during the 4th quarter worth $37,000. Finally, HHM Wealth Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth $41,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the subject of several analyst reports. Barclays boosted their target price 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. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price 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, UBS Group boosted their target price 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $296.18.

Insider Activity

In related news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,951 shares of company stock valued at $1,762,074. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ ADP opened at $297.51 on Friday. The company has a market capitalization of $121.22 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $302.91 and a two-hundred day moving average of $295.08. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Automatic Data Processing 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.