Automatic Data Processing, Inc. (NASDAQ:ADP) is Bath Savings Trust Co’s 9th Largest Position

Bath Savings Trust Co boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,348 shares of the business services provider’s stock after buying an additional 1,251 shares during the quarter. Automatic Data Processing makes up about 2.7% of Bath Savings Trust Co’s holdings, making the stock its 9th largest position. Bath Savings Trust Co’s holdings in Automatic Data Processing were worth $26,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Automatic Data Processing by 70.7% during the second 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 grew its holdings 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 worth $12,888,000 after purchasing an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $2,924,000. Finally, LVW Advisors LLC boosted its position in shares of Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ADP. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research 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 research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $267.83.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Down 1.1 %

NASDAQ:ADP opened at $282.12 on Tuesday. The stock has a market capitalization of $115.47 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $286.30. The stock has a fifty day moving average price of $270.94 and a two-hundred day moving average price of $254.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the business earned $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.98%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

About Automatic Data Processing

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.