First Financial Bank Trust Division lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,041 shares of the business services provider’s stock after selling 2,235 shares during the period. First Financial Bank Trust Division’s holdings in Automatic Data Processing were worth $1,327,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Thomasville National Bank lifted its stake in Automatic Data Processing by 5.3% in the first quarter. Thomasville National Bank now owns 4,656 shares of the business services provider’s stock worth $636,000 after acquiring an additional 233 shares during the period. Pensionfund DSM Netherlands raised its holdings in shares of Automatic Data Processing by 14.8% in the 1st quarter. Pensionfund DSM Netherlands now owns 23,300 shares of the business services provider’s stock valued at $4,391,000 after purchasing an additional 3,000 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $745,000. Rollins Financial bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $542,000. Finally, IronBridge Private Wealth LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $42,000. 79.65% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Stuart Sackman sold 576 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $185.00, for a total transaction of $106,560.00. Following the completion of the transaction, the vice president now owns 23,221 shares of the company’s stock, valued at $4,295,885. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Deborah L. Dyson sold 600 shares of the business’s stock in a transaction on Monday, January 11th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at $4,236,670.98. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Tuesday, January 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.23. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business posted $1.52 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 5.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.99%. Automatic Data Processing’s payout ratio is 62.84%.
A number of analysts have weighed in on ADP shares. Wells Fargo & Company upped their target price on Automatic Data Processing from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $197.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, March 24th. Morgan Stanley lifted their target price on Automatic Data Processing from $159.00 to $171.00 and gave the company an “equal weight” rating in a research note on Thursday, January 28th. Evercore ISI lowered shares of Automatic Data Processing from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $197.00 to $143.00 in a research report on Tuesday, January 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Automatic Data Processing from $150.00 to $173.00 and gave the company a “hold” rating in a report on Thursday, January 28th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $168.53.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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