Webster Bank N. A. Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Webster Bank N. A. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,866 shares of the business services provider’s stock after selling 63 shares during the quarter. Webster Bank N. A.’s holdings in Automatic Data Processing were worth $3,284,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ADP. Moors & Cabot Inc. increased its stake in Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after purchasing an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its holdings in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after buying an additional 40 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after buying an additional 41 shares during the last quarter. Cypress Wealth Services LLC boosted its holdings in shares of Automatic Data Processing by 4.8% in the 3rd quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock valued at $248,000 after buying an additional 41 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in shares of Automatic Data Processing by 1.3% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock valued at $828,000 after buying an additional 43 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Up 0.5 %

ADP stock traded up $1.45 during mid-day trading on Friday, reaching $288.36. The company’s stock had a trading volume of 952,208 shares, compared to its average volume of 1,633,195. The company has a market cap of $118.02 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The business’s 50 day moving average price is $273.55 and its 200 day moving average price is $255.40. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $288.50.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued 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 62.50%.

Analysts Set New Price Targets

ADP has been the subject of several research reports. Jefferies Financial Group raised their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup raised their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Barclays lifted their target price 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 investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $267.83.

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.