Greenleaf Trust Buys 10,586 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Greenleaf Trust grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 48.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,579 shares of the business services provider’s stock after acquiring an additional 10,586 shares during the period. Greenleaf Trust’s holdings in Automatic Data Processing were worth $7,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ADP. Moneta Group Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 94,265.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after buying an additional 6,763,553 shares during the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $531,416,000. Imprint Wealth LLC lifted its stake in shares of Automatic Data Processing by 24,743.9% in the 2nd quarter. Imprint Wealth LLC now owns 987,795 shares of the business services provider’s stock valued at $98,780,000 after purchasing an additional 983,819 shares during the period. International Assets Investment Management LLC boosted its position in shares of Automatic Data Processing by 22,539.4% in the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after purchasing an additional 930,199 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after purchasing an additional 905,043 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 in the last three months. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $1.32 on Friday, reaching $243.31. The stock had a trading volume of 1,638,700 shares, compared to its average volume of 1,816,781. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $99.95 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The firm has a fifty day moving average of $247.36 and a two-hundred day moving average of $239.20. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company earned $1.96 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a 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. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Finally, Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $254.58.

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.