Automatic Data Processing, Inc. (NASDAQ:ADP) Position Lessened by Huntington National Bank

Huntington National Bank trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,953 shares of the business services provider's stock after selling 3,344 shares during the period. Huntington National Bank owned about 0.06% of Automatic Data Processing worth $68,063,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ROI Financial Advisors LLC lifted its position in Automatic Data Processing by 12.7% during the third quarter. ROI Financial Advisors LLC now owns 5,726 shares of the business services provider's stock worth $1,585,000 after buying an additional 645 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Automatic Data Processing by 1.4% during the 3rd quarter. Plato Investment Management Ltd now owns 26,995 shares of the business services provider's stock worth $7,463,000 after acquiring an additional 385 shares during the period. Cable Hill Partners LLC grew its holdings in Automatic Data Processing by 11.8% in the third quarter. Cable Hill Partners LLC now owns 1,233 shares of the business services provider's stock valued at $343,000 after purchasing an additional 130 shares during the period. Bell Bank acquired a new position in Automatic Data Processing during the third quarter worth approximately $226,000. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in Automatic Data Processing by 18.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 5,323 shares of the business services provider's stock worth $1,473,000 after purchasing an additional 827 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Jefferies Financial Group raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Finally, UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $289.91.

Automatic Data Processing Stock Performance

ADP traded down $3.74 on Thursday, hitting $303.76. 430,044 shares of the company's stock were exchanged, compared to its average volume of 1,629,174. The firm has a market cap of $123.77 billion, a PE ratio of 32.82, a P/E/G ratio of 3.58 and a beta of 0.79. The stock has a fifty day moving average of $286.03 and a two-hundred day moving average of $263.23. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.03%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio is presently 65.74%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company's stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is owned by corporate insiders.

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.