Automatic Data Processing, Inc. (NASDAQ:ADP) Position Lessened by Sunflower Bank N.A.

Sunflower Bank N.A. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,755 shares of the business services provider’s stock after selling 44 shares during the quarter. Sunflower Bank N.A.’s holdings in Automatic Data Processing were worth $762,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. TD Asset Management Inc grew its stake in shares of Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after purchasing an additional 264,466 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at about $2,924,000. Finally, LVW Advisors LLC grew its position in Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after buying an additional 740 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays upped their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.45 during trading hours on Friday, hitting $288.36. 952,208 shares of the company’s stock were exchanged, compared to its average volume of 1,633,195. The stock’s 50-day moving average is $273.55 and its 200-day moving average is $255.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $288.50. The stock has a market cap of $118.02 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

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.