Parkside Financial Bank & Trust Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Parkside Financial Bank & Trust grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,415 shares of the business services provider’s stock after purchasing 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 SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at $35,000. Raleigh Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares during the period. Carmel Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 43.4% in the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after acquiring an additional 69 shares during the period. Finally, VisionPoint Advisory Group LLC increased its position in Automatic Data Processing by 323.2% during the third quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock valued at $57,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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 dated Thursday, February 1st. The shares were 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 SEC, which can be accessed through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADP. Evercore ISI raised their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Trading Down 0.9 %

NASDAQ ADP traded down $2.30 during trading hours on Wednesday, hitting $244.54. 201,294 shares of the company were exchanged, compared to its average volume of 1,788,001. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84. 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 stock has a 50-day moving average price of $247.09 and a 200 day moving average price of $239.21. The stock has a market cap of $100.45 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion for 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 company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Automatic Data Processing Company 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.