Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Webster Bank N. A.

Webster Bank N. A. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,586 shares of the business services provider’s stock after selling 280 shares during the period. Webster Bank N. A.’s holdings in Automatic Data Processing were worth $3,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing in the 3rd quarter worth $26,000. Dunhill Financial LLC grew its position in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC bought a new stake 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.

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s 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. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADP. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Barclays raised their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

ADP opened at $297.10 on Monday. 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 market cap of $121.06 billion, a PE ratio of 31.71, a P/E/G ratio of 3.45 and a beta of 0.79. The business has a fifty day simple moving average of $297.13 and a 200-day simple moving average of $282.77. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the company posted $2.08 EPS. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. 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 2.07%. Automatic Data Processing’s dividend payout ratio is 65.74%.

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.