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

Sunflower Bank N.A. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,755 shares of the business services provider’s stock after selling 44 shares during the period. Sunflower Bank N.A.’s holdings in Automatic Data Processing were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after acquiring an additional 173,298 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after buying an additional 249,566 shares during the period. Ameriprise Financial Inc. raised its position in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the period. Capital Research Global Investors lifted its stake in shares of Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after purchasing an additional 81,869 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after purchasing an additional 139,561 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus lifted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Barclays increased their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $267.83.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 in the last ninety days. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Up 0.5 %

Automatic Data Processing stock traded up $1.45 during midday trading on Friday, hitting $288.36. 952,208 shares of the stock were exchanged, compared to its average volume of 1,633,195. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $273.55 and a two-hundred day moving average price of $255.40. The firm has a market cap of $118.02 billion, a P/E ratio of 32.18, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $288.50.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.