Huntington National Bank Sells 3,614 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Huntington National Bank lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 242,339 shares of the business services provider’s stock after selling 3,614 shares during the quarter. Huntington National Bank owned about 0.06% of Automatic Data Processing worth $70,940,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADP. Kestra Investment Management LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $224,000. Hilltop Holdings Inc. boosted its stake in Automatic Data Processing by 515.3% during the third quarter. Hilltop Holdings Inc. now owns 19,024 shares of the business services provider’s stock worth $5,264,000 after acquiring an additional 15,932 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter worth $26,000. Investment Management Corp of Ontario increased its stake in Automatic Data Processing by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 13,604 shares of the business services provider’s stock valued at $3,765,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Automatic Data Processing by 16.6% during the third quarter. Integrated Wealth Concepts LLC now owns 10,826 shares of the business services provider’s stock valued at $2,996,000 after purchasing an additional 1,545 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $306.54 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company’s 50 day moving average price is $304.22 and its two-hundred day moving average price is $296.84. The stock has a market cap of $124.90 billion, a P/E ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

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.