Greenfield Savings Bank Sells 125 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Greenfield Savings Bank lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,952 shares of the business services provider’s stock after selling 125 shares during the quarter. Greenfield Savings Bank’s holdings in Automatic Data Processing were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its position in Automatic Data Processing by 0.4% during the second quarter. Federated Hermes Inc. now owns 92,324 shares of the business services provider’s stock valued at $22,037,000 after acquiring an additional 365 shares during the last quarter. Parallel Advisors LLC grew its holdings in Automatic Data Processing by 2.7% in the second quarter. Parallel Advisors LLC now owns 8,071 shares of the business services provider’s stock worth $1,927,000 after purchasing an additional 216 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Automatic Data Processing by 0.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider’s stock worth $3,682,000 after purchasing an additional 130 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Automatic Data Processing by 4.3% in the second quarter. J.W. Cole Advisors Inc. now owns 5,872 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 242 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Automatic Data Processing by 14.1% in the second quarter. Brown Brothers Harriman & Co. now owns 500,158 shares of the business services provider’s stock valued at $119,383,000 after purchasing an additional 61,734 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria Black sold 721 shares of the 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 completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,062 shares of company stock worth $12,299,550. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $290.20 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $298.47 and a 200-day simple moving average of $278.98. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a market cap of $118.24 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADP shares. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted their target price 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $289.91.

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.