Field & Main Bank Sells 225 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Field & Main Bank cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,860 shares of the business services provider’s stock after selling 225 shares during the period. Field & Main Bank’s holdings in Automatic Data Processing were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 2.1% in the second quarter. Vanguard Group Inc. now owns 37,963,373 shares of the business services provider’s stock worth $7,540,285,000 after acquiring an additional 769,762 shares during the last quarter. State Street Corp raised its stake in shares of Automatic Data Processing by 0.5% during the second quarter. State Street Corp now owns 18,121,048 shares of the business services provider’s stock worth $3,615,814,000 after buying an additional 95,598 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Automatic Data Processing by 2.3% during the second quarter. Geode Capital Management LLC now owns 7,925,355 shares of the business services provider’s stock worth $1,570,426,000 after buying an additional 175,552 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Automatic Data Processing by 11.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,546,626 shares of the business services provider’s stock worth $1,101,671,000 after buying an additional 555,431 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Automatic Data Processing by 8.5% during the second quarter. Deutsche Bank AG now owns 3,002,019 shares of the business services provider’s stock worth $596,262,000 after buying an additional 236,111 shares during the last quarter. 78.81% of the stock is owned by institutional investors.

Shares of Automatic Data Processing stock traded down $1.77 on Thursday, hitting $234.37. The company had a trading volume of 1,511,075 shares, compared to its average volume of 1,644,715. The firm has a market capitalization of $98.76 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.93 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $159.31 and a twelve month high of $241.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day moving average of $215.87 and a 200-day moving average of $207.30.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Tuesday, October 26th. The business services provider reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.16. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Automatic Data Processing had a net margin of 17.55% and a return on equity of 47.31%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities analysts predict that Automatic Data Processing, Inc. will post 6.77 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 1st. Stockholders of record on Friday, December 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, December 9th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.93. Automatic Data Processing’s payout ratio is currently 58.86%.

A number of research firms recently weighed in on ADP. Credit Suisse Group downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 price target for the company. in a research note on Monday, August 16th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating and set a $247.00 price target for the company. in a research note on Wednesday, November 17th. Barclays boosted their price objective on shares of Automatic Data Processing from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, October 29th. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $215.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 27th. Finally, JPMorgan Chase & Co. cut shares of Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 price objective for the company. in a report on Tuesday, August 17th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $224.29.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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