Park National Corp OH Sells 2,078 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Park National Corp OH lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,193 shares of the business services provider's stock after selling 2,078 shares during the period. Park National Corp OH's holdings in Automatic Data Processing were worth $9,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Trust Co of the South raised its stake in shares of Automatic Data Processing by 1.5% during the 1st quarter. Trust Co of the South now owns 3,075 shares of the business services provider's stock worth $940,000 after purchasing an additional 45 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Automatic Data Processing by 7.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,918 shares of the business services provider's stock worth $892,000 after purchasing an additional 207 shares in the last quarter. Milestone Asset Management Group LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $769,000. M1 Capital Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $383,000. Finally, Chancellor Financial Group WB LP bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $362,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $2.26 on Monday, reaching $323.27. The stock had a trading volume of 398,197 shares, compared to its average volume of 1,796,802. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average of $303.74 and a two-hundred day moving average of $301.70. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $327.99. The company has a market cap of $131.22 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction 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 completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADP. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. Wall Street Zen cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $305.64.

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.