Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Somerset Trust Co

Somerset Trust Co grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,172 shares of the business services provider’s stock after purchasing an additional 275 shares during the quarter. Automatic Data Processing comprises about 2.1% of Somerset Trust Co’s portfolio, making the stock its 10th biggest position. Somerset Trust Co’s holdings in Automatic Data Processing were worth $5,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. State Street Corp boosted its stake in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares during the period. Legal & General Group Plc grew its stake in shares of Automatic Data Processing by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after buying an additional 139,561 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after buying an additional 41,709 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.0 %

NASDAQ:ADP opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The firm has a 50-day moving average price of $298.07 and a two-hundred day moving average price of $279.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the business posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s payout ratio is currently 65.74%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADP shares. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by company insiders.

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.