Legacy Private Trust Co. Takes $353,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Legacy Private Trust Co. acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,155 shares of the business services provider's stock, valued at approximately $353,000.

Other institutional investors have also added to or reduced their stakes in the company. Main Street Group LTD increased its stake in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $37,000. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $37,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $305.64.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $1.10 during trading on Friday, reaching $325.22. 2,925,042 shares of the company traded hands, compared to its average volume of 1,702,995. The firm has a 50 day simple moving average of $303.74 and a 200-day simple moving average of $301.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $132.01 billion, a PE ratio of 33.91, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $327.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.88 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by 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.