Trust Co. of Oklahoma Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Trust Co. of Oklahoma lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,737 shares of the business services provider’s stock after selling 75 shares during the quarter. Trust Co. of Oklahoma’s holdings in Automatic Data Processing were worth $508,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADP. Moloney Securities Asset Management LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth $209,000. Nomura Asset Management Co. Ltd. lifted its holdings in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in Automatic Data Processing in the 3rd quarter valued at about $470,000. Dash Acquisitions Inc. grew its stake in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Automatic Data Processing during the third quarter worth approximately $951,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho raised their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Down 0.6 %

NASDAQ:ADP opened at $296.36 on Thursday. The stock has a market capitalization of $120.75 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.47 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $297.27 and a 200 day moving average of $281.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. Company insiders own 0.21% 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.