Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Decreased by Trust Co. of Oklahoma

Trust Co. of Oklahoma cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,650 shares of the business services provider’s stock after selling 87 shares during the quarter. Trust Co. of Oklahoma’s holdings in Automatic Data Processing were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Automatic Data Processing by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after buying an additional 277,324 shares during the period. Geode Capital Management LLC boosted its stake in Automatic Data Processing by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock worth $3,098,305,000 after purchasing an additional 65,965 shares during the period. Northern Trust Corp boosted its position in shares of Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after buying an additional 902,354 shares during the period. Capital Research Global Investors boosted its position in shares of Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after buying an additional 1,299,390 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Automatic Data Processing by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock worth $1,137,710,000 after buying an additional 219,032 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADP. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. UBS Group lifted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $305.64.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 2.5%

Shares of Automatic Data Processing stock opened at $318.57 on Tuesday. The stock has a market capitalization of $129.31 billion, a P/E ratio of 33.22, a PEG ratio of 3.62 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $306.18 and a two-hundred day moving average price of $302.73. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Automatic Data Processing’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.93%. Automatic Data Processing’s payout ratio is 63.05%.

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.