Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 332,513 shares of the business services provider's stock after selling 6,354 shares during the period. Fifth Third Bancorp owned 0.08% of Automatic Data Processing worth $83,042,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. McAdam LLC lifted its stake in shares of Automatic Data Processing by 4.0% in the 1st quarter. McAdam LLC now owns 1,420 shares of the business services provider's stock worth $355,000 after acquiring an additional 54 shares during the period. Wesbanco Bank Inc. lifted its stake in shares of Automatic Data Processing by 56.1% in the 1st quarter. Wesbanco Bank Inc. now owns 10,280 shares of the business services provider's stock worth $2,567,000 after acquiring an additional 3,695 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Automatic Data Processing by 25.4% in the 1st quarter. Summit Trail Advisors LLC now owns 5,542 shares of the business services provider's stock worth $1,392,000 after acquiring an additional 1,122 shares during the period. Stablepoint Partners LLC lifted its stake in shares of Automatic Data Processing by 4.8% in the 1st quarter. Stablepoint Partners LLC now owns 1,020 shares of the business services provider's stock worth $255,000 after acquiring an additional 47 shares during the period. Finally, Strategic Blueprint LLC increased its holdings in shares of Automatic Data Processing by 6.6% in the 1st quarter. Strategic Blueprint LLC now owns 4,427 shares of the business services provider's stock valued at $1,106,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling

In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 694 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company's stock, valued at approximately $5,159,958.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,829 shares of company stock worth $965,274. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an "overweight" rating in a report on Thursday. Mizuho raised their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a "buy" rating in a report on Monday, March 11th. Wolfe Research upgraded shares of Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a report on Thursday, January 4th. TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a "hold" rating for the company in a report on Thursday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $255.42.

Automatic Data Processing Trading Down 2.1 %

ADP stock traded down $5.30 during midday trading on Thursday, reaching $242.03. 1,781,121 shares of the company's stock traded hands, compared to its average volume of 1,798,777. The company has a market capitalization of $99.42 billion, a P/E ratio of 28.18, a PEG ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The business has a 50-day moving average price of $245.91 and a two-hundred day moving average price of $239.13.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts' consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analysts' expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.52 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business 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. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. Automatic Data Processing's dividend payout ratio (DPR) is presently 65.19%.

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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