Truist Financial Corp Has $189.48 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Truist Financial Corp lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 813,300 shares of the business services provider's stock after selling 90,871 shares during the period. Truist Financial Corp owned about 0.20% of Automatic Data Processing worth $189,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. OFI Invest Asset Management bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at $35,000. Evolution Advisers Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth $41,000. Raleigh Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider's stock valued at $42,000 after acquiring an additional 89 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $42,000. Institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America upgraded Automatic Data Processing from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an "underperform" rating in a research report on Tuesday, March 26th. Mizuho increased their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a "buy" rating in a research note on Monday, March 11th. Wolfe Research upgraded shares of Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada reiterated 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $254.58.

Automatic Data Processing Stock Down 1.3 %

ADP traded down $3.27 during trading on Friday, reaching $243.07. The company had a trading volume of 1,555,277 shares, compared to its average volume of 1,793,701. The company has a market cap of $99.85 billion, a P/E ratio of 28.30, a PEG ratio of 2.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. 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 business's fifty day moving average price is $246.70 and its 200 day moving average price is $239.26.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. The business's revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 65.19%.

Insider Activity

In other news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares of the company's stock, valued at $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the firm's 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 of the company's stock, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David Kwon sold 863 shares of the business'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 transaction, the vice president now directly owns 8,285 shares of the company's stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 over the last ninety days. 0.26% of the stock is currently 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.

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