28,534 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Heritage Trust Co

Heritage Trust Co purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,534 shares of the business services provider's stock, valued at approximately $8,353,000. Automatic Data Processing comprises approximately 1.0% of Heritage Trust Co's investment portfolio, making the stock its 21st biggest position.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Automatic Data Processing during the fourth quarter worth $455,993,000. Winslow Capital Management LLC purchased a new position in Automatic Data Processing during the fourth quarter worth about $396,714,000. Raymond James Financial Inc. acquired a new stake in Automatic Data Processing during the fourth quarter worth $342,942,000. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Finally, Amundi increased its position in shares of Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock worth $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $3.06 on Wednesday, reaching $295.00. 461,446 shares of the company were exchanged, compared to its average volume of 1,670,209. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $120.20 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The company has a 50-day moving average of $302.03 and a 200-day moving average of $297.93.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing's payout ratio is 64.23%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average target price of $302.30.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of the business'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 value of $458,070.00. Following the completion of the sale, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $1,447,893 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Company 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.