Trust Co. of Oklahoma Sells 204 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Trust Co. of Oklahoma reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,812 shares of the business services provider’s stock after selling 204 shares during the period. Trust Co. of Oklahoma’s holdings in Automatic Data Processing were worth $501,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Moors & Cabot Inc. lifted its position in shares of Automatic Data Processing by 0.7% in the 2nd 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 period. Schmidt P J Investment Management Inc. lifted its position in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares during the period. Confluence Wealth Services Inc. lifted its position in shares of Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares during the period. Cypress Wealth Services LLC lifted its position in Automatic Data Processing by 4.8% during the third quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock valued at $248,000 after acquiring an additional 41 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in Automatic Data Processing by 1.3% during the second quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock valued at $828,000 after acquiring an additional 43 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ADP shares. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Barclays boosted their price target 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 upped their target price 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $267.83.

Automatic Data Processing Price Performance

ADP stock traded down $0.55 during trading on Tuesday, hitting $290.45. The company had a trading volume of 677,861 shares, compared to its average volume of 1,625,060. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $274.20 and a 200 day moving average of $255.74. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.00. The firm has a market capitalization of $118.88 billion, a price-to-earnings ratio of 32.48, a P/E/G ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was 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 three months. 0.26% of the stock is currently owned by insiders.

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.