Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Webster Bank N. A.

Webster Bank N. A. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,218 shares of the business services provider’s stock after selling 77 shares during the period. Webster Bank N. A.’s holdings in Automatic Data Processing were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ADP. Heritage Investment Group Inc. boosted its position in shares of Automatic Data Processing by 1.9% during the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after buying an additional 41 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in Automatic Data Processing by 0.8% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after buying an additional 42 shares during the last quarter. Argus Investors Counsel Inc. lifted its holdings in Automatic Data Processing by 0.5% during the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares during the last quarter. Morningstar Investment Management LLC lifted its holdings in Automatic Data Processing by 1.7% during the 4th quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after buying an additional 46 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after buying an additional 47 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP stock traded up $1.39 on Friday, reaching $238.69. The company had a trading volume of 2,595,023 shares, compared to its average volume of 1,635,318. The company’s fifty day moving average is $245.79 and its 200 day moving average is $243.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $97.69 billion, a P/E ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm earned $2.52 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.35%. Automatic Data Processing’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADP. Barclays lifted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. TD Cowen dropped their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $255.42.

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.