Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,237,998 shares of the business services provider’s stock after selling 12,305 shares during the quarter. PNC Financial Services Group Inc. owned 0.30% of Automatic Data Processing worth $362,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing during the 3rd quarter valued at $26,000. Dunhill Financial LLC increased its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter valued at about $35,000. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group raised their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $296.18.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $306.45 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The firm has a market cap of $124.87 billion, a P/E ratio of 31.96, a PEG ratio of 3.62 and a beta of 0.79. The stock has a fifty day moving average price of $302.08 and a two-hundred day moving average price of $293.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

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.