Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,769 shares of the business services provider's stock after selling 3,871 shares during the period. Rockland Trust Co.'s holdings in Automatic Data Processing were worth $21,009,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Tower Wealth Partners Inc. raised its holdings in Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider's stock valued at $292,000 after buying an additional 35 shares during the period. Harbour Investments Inc. grew its holdings in Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock valued at $482,000 after purchasing an additional 36 shares during the last quarter. Petredis Investment Advisors LLC raised its position in Automatic Data Processing by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock worth $2,902,000 after purchasing an additional 37 shares during the period. Moors & Cabot Inc. lifted its stake in Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock worth $1,360,000 after purchasing an additional 39 shares during the last quarter. Finally, Austin Private Wealth LLC grew its stake in shares of Automatic Data Processing by 4.4% during the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider's stock valued at $255,000 after buying an additional 39 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

ADP traded up $1.68 during trading on Wednesday, reaching $293.37. 1,764,377 shares of the company's stock were exchanged, compared to its average volume of 1,639,009. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company's fifty day simple moving average is $298.48 and its 200-day simple moving average is $279.35. The stock has a market capitalization of $119.54 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

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 company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.10%. Automatic Data Processing's payout ratio is presently 65.74%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ADP shares. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Barclays lifted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Royal Bank of Canada boosted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $289.91.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,067 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the company's stock in a transaction that occurred on 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 transaction, the vice president now directly owns 32,604 shares of the company's stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company's stock.

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.