OLD National Bancorp IN Sells 257 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

OLD National Bancorp IN reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,726 shares of the business services provider’s stock after selling 257 shares during the period. OLD National Bancorp IN’s holdings in Automatic Data Processing were worth $2,965,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADP. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing in the third quarter worth about $25,000. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $35,000. Raleigh Capital Management Inc. raised its stake in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Carmel Capital Partners LLC grew its position in shares of Automatic Data Processing by 43.4% during the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after buying an additional 69 shares during the period. Finally, VisionPoint Advisory Group LLC grew its position in shares of Automatic Data Processing by 323.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock worth $57,000 after buying an additional 181 shares during the period. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report 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. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $254.58.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the sale, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the sale, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $246.31 on Tuesday. The company’s fifty day simple moving average is $247.15 and its 200-day simple moving average is $239.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market cap of $101.18 billion, a PE ratio of 28.67, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $256.84.

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

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Automatic Data Processing 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.