Oakworth Capital Inc. Has $1.43 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Oakworth Capital Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,179 shares of the business services provider’s stock after selling 127 shares during the period. Oakworth Capital Inc.’s holdings in Automatic Data Processing were worth $1,433,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC grew its position in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the period. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.5 %

NASDAQ ADP opened at $289.50 on Tuesday. The stock has a market capitalization of $118.49 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average is $277.27 and its 200-day moving average is $257.33.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $270.33.

Insider Buying and Selling

In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

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.