Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 3.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,115 shares of the business services provider’s stock after selling 380 shares during the period. Automatic Data Processing makes up approximately 0.9% of Home Federal Bank of Tennessee’s holdings, making the stock its 17th largest holding. Home Federal Bank of Tennessee’s holdings in Automatic Data Processing were worth $2,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. BlackRock Inc. raised its position in shares of Automatic Data Processing by 5.1% during the 1st quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider’s stock valued at $7,653,871,000 after acquiring an additional 1,642,852 shares in the last quarter. State Street Corp raised its position in shares of Automatic Data Processing by 2.0% during the 4th quarter. State Street Corp now owns 18,427,297 shares of the business services provider’s stock valued at $4,562,432,000 after acquiring an additional 357,520 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Automatic Data Processing by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,689,136 shares of the business services provider’s stock valued at $1,522,047,000 after acquiring an additional 461,438 shares in the last quarter. Capital World Investors raised its position in shares of Automatic Data Processing by 16.9% during the 1st quarter. Capital World Investors now owns 5,393,160 shares of the business services provider’s stock valued at $1,227,160,000 after acquiring an additional 779,457 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of Automatic Data Processing by 10.5% during the 1st quarter. Capital Research Global Investors now owns 3,839,498 shares of the business services provider’s stock valued at $873,639,000 after acquiring an additional 364,087 shares in the last quarter. 79.06% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.3 %

Shares of NASDAQ ADP traded down $0.63 during mid-day trading on Friday, hitting $229.84. 41,814 shares of the company traded hands, compared to its average volume of 1,759,723. Automatic Data Processing, Inc. has a 1 year low of $192.26 and a 1 year high of $261.59. The stock has a market capitalization of $95.50 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.39 and a beta of 0.82. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average of $240.78 and a two-hundred day moving average of $225.72.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.02. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 174 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $41,184.06. Following the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $747,230.33. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now owns 4,238 shares in the company, valued at approximately $892,692.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 174 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $41,184.06. Following the completion of the sale, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $747,230.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,349 shares of company stock valued at $25,576,129. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of a number of recent research reports. Cowen upped their price objective on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday. Mizuho increased their price target on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Wolfe Research decreased their price target on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Cowen increased their price target on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday. Finally, Morgan Stanley increased their price target on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $236.85.

Automatic Data Processing Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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