Crews Bank & Trust Purchases Shares of 714 Automatic Data Processing, Inc. (NASDAQ:ADP)

Crews Bank & Trust acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 714 shares of the business services provider’s stock, valued at approximately $209,000.

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

Insider Activity

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $303.26 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $297.23 and a 200-day moving average of $283.77. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67. The company has a market cap of $123.57 billion, a P/E ratio of 32.37, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Analyst Ratings Changes

Several equities research analysts recently commented on ADP shares. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday. UBS Group raised their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday. Finally, TD Cowen upped their price objective 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $291.27.

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.