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

First Western Trust Bank lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,937 shares of the business services provider’s stock after selling 111 shares during the quarter. First Western Trust Bank’s holdings in Automatic Data Processing were worth $701,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. 9258 Wealth Management LLC grew its stake in Automatic Data Processing by 6.9% in the 2nd quarter. 9258 Wealth Management LLC now owns 1,185 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 76 shares during the period. SouthState Corp lifted its holdings in Automatic Data Processing by 1.0% during the second quarter. SouthState Corp now owns 18,194 shares of the business services provider’s stock valued at $4,343,000 after purchasing an additional 172 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in Automatic Data Processing by 6.9% during the second quarter. Hohimer Wealth Management LLC now owns 13,117 shares of the business services provider’s stock valued at $3,131,000 after purchasing an additional 841 shares in the last quarter. Journey Advisory Group LLC grew its position in shares of Automatic Data Processing by 6.3% in the second quarter. Journey Advisory Group LLC now owns 17,333 shares of the business services provider’s stock valued at $4,138,000 after purchasing an additional 1,033 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Automatic Data Processing by 4.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 1,363 shares of the business services provider’s stock worth $325,000 after purchasing an additional 54 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,614 shares of company stock worth $13,519,460. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADP. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus increased their price objective 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. Finally, Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Stock Down 1.8 %

Shares of ADP opened at $270.17 on Friday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $278.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $255.77 and a two-hundred day simple moving average of $249.62. The company has a market capitalization of $110.58 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 3.00 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 (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.89 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.