PNC Financial Services Group Inc. Has $362.40 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

PNC Financial Services Group Inc. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,237,998 shares of the business services provider's stock after selling 12,305 shares during the period. PNC Financial Services Group Inc. owned about 0.30% of Automatic Data Processing worth $362,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $296.18.

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Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $3.99 during trading on Friday, reaching $306.45. The company had a trading volume of 2,293,467 shares, compared to its average volume of 1,742,547. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The stock has a market cap of $124.87 billion, a PE ratio of 31.96, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The business's 50 day moving average price is $302.08 and its 200-day moving average price is $293.75.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Insider Buying and Selling

In related news, CEO Maria Black sold 721 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction 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. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 over the last ninety days. Insiders own 0.21% of the company's stock.

Automatic Data Processing Profile

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.