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

First United Bank & Trust lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,100 shares of the business services provider’s stock after selling 40 shares during the quarter. First United Bank & Trust’s holdings in Automatic Data Processing were worth $304,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Petredis Investment Advisors LLC lifted its holdings in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares during the period. Keystone Wealth Services LLC purchased a new position in Automatic Data Processing during the 3rd quarter worth $213,000. Ullmann Wealth Partners Group LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $529,000. GenWealth Group Inc. acquired a new position in shares of Automatic Data Processing during the third quarter worth about $201,000. Finally, Creative Planning raised its holdings in Automatic Data Processing by 2.8% during the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock worth $35,306,000 after purchasing an additional 3,456 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADP. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Bank of America upped their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Up 0.2 %

ADP opened at $290.70 on Thursday. The firm has a market cap of $118.98 billion, a P/E ratio of 32.44, a PEG ratio of 3.13 and a beta of 0.79. The business’s fifty day simple moving average is $275.45 and its 200 day simple moving average is $256.27. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results 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 company had revenue of $4.80 billion for 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%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.89 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on 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 $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 in the last quarter. 0.26% of the stock is currently owned by company insiders.

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.