Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,401 shares of the business services provider’s stock after acquiring an additional 3,555 shares during the period. Citizens Financial Group Inc. RI’s holdings in Automatic Data Processing were worth $5,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Automatic Data Processing during the third quarter valued at about $25,000. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $35,000. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $41,000. Raleigh Capital Management Inc. lifted its stake in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth about $42,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ADP shares. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,162 shares of company stock valued at $3,741,859. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock traded down $3.27 during trading on Friday, hitting $243.07. The company had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. The company has a fifty day moving average price of $246.70 and a two-hundred day moving average price of $239.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market cap of $99.85 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.31 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the company posted $1.96 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

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.