Parkside Financial Bank & Trust Purchases 48 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Parkside Financial Bank & Trust boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,139 shares of the business services provider’s stock after acquiring an additional 48 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Automatic Data Processing were worth $1,227,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADP. Blue Barn Wealth LLC boosted its stake in shares of Automatic Data Processing by 10.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 1,063 shares of the business services provider’s stock valued at $254,000 after purchasing an additional 104 shares in the last quarter. Arizona State Retirement System boosted its position in Automatic Data Processing by 0.9% in the second quarter. Arizona State Retirement System now owns 119,090 shares of the business services provider’s stock valued at $28,426,000 after buying an additional 1,059 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Automatic Data Processing by 13.8% during the second quarter. Victory Capital Management Inc. now owns 600,737 shares of the business services provider’s stock worth $143,390,000 after buying an additional 72,740 shares during the last quarter. Columbia Asset Management increased its holdings in shares of Automatic Data Processing by 3.5% during the second quarter. Columbia Asset Management now owns 1,868 shares of the business services provider’s stock worth $446,000 after buying an additional 64 shares in the last quarter. Finally, Waverton Investment Management Ltd bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at $334,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction 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 $23,959,908.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Maria Black sold 19,147 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated 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 directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,614 shares of company stock worth $13,519,460. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ADP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price 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. Jefferies Financial Group upped their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Stock Down 0.3 %

Shares of NASDAQ ADP traded down $0.92 during trading on Friday, hitting $269.25. 1,004,359 shares of the company traded hands, compared to its average volume of 1,639,671. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average is $255.77 and its 200 day moving average is $249.62. The firm has a market capitalization of $110.20 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 3.00 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $278.24.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

About Automatic Data Processing

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.