Parkside Financial Bank & Trust Has $1.03 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Parkside Financial Bank & Trust increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,415 shares of the business services provider’s stock after acquiring an additional 119 shares during the period. Parkside Financial Bank & Trust’s holdings in Automatic Data Processing were worth $1,029,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Automatic Data Processing by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after purchasing an additional 198,008 shares during the period. Northern Trust Corp increased its stake in Automatic Data Processing by 5.1% in the third quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after acquiring an additional 288,234 shares during the period. Wellington Management Group LLP lifted its stake in Automatic Data Processing by 1.5% during the third quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock worth $1,261,327,000 after purchasing an additional 77,187 shares during the period. Ameriprise Financial Inc. boosted its holdings in Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after purchasing an additional 553,946 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Automatic Data Processing by 40.7% in the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after purchasing an additional 905,043 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $2.30 during trading on Wednesday, hitting $244.54. 201,294 shares of the company were exchanged, compared to its average volume of 1,788,001. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The company has a market capitalization of $100.45 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The business’s 50 day moving average is $247.09 and its 200-day moving average is $239.21.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.96 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.