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

Central Bank & Trust Co. lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 57.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 934 shares of the business services provider’s stock after selling 1,253 shares during the quarter. Central Bank & Trust Co.’s holdings in Automatic Data Processing were worth $223,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after buying an additional 173,298 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Automatic Data Processing by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after buying an additional 249,566 shares in the last quarter. Capital Research Global Investors increased its position in shares of Automatic Data Processing by 2.3% in the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after buying an additional 81,869 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Automatic Data Processing by 16.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,124,476 shares of the business services provider’s stock valued at $530,567,000 after buying an additional 307,156 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $262.18.

Automatic Data Processing Trading Up 0.2 %

NASDAQ:ADP traded up $0.47 during mid-day trading on Monday, reaching $264.56. The company’s stock had a trading volume of 182,931 shares, compared to its average volume of 1,666,667. The company’s fifty day simple moving average is $248.30 and its two-hundred day simple moving average is $247.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $269.49. The stock has a market cap of $108.28 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.72 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.