Commerce Bank Has $32.98 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Commerce Bank trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the fourth quarter, Holdings Channel reports. The fund owned 112,674 shares of the business services provider’s stock after selling 347 shares during the quarter. Commerce Bank’s holdings in Automatic Data Processing were worth $32,983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing in the 4th quarter worth $708,000. Bath Savings Trust Co increased its stake in shares of Automatic Data Processing by 2.0% in the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock worth $29,068,000 after purchasing an additional 1,951 shares during the period. Principal Financial Group Inc. lifted its position in shares of Automatic Data Processing by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after purchasing an additional 22,766 shares during the last quarter. Franklin Resources Inc. boosted its stake in Automatic Data Processing by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after purchasing an additional 51,828 shares during the period. Finally, Relyea Zuckerberg Hanson LLC grew its holdings in Automatic Data Processing by 121.7% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider’s stock valued at $3,776,000 after buying an additional 7,080 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research reports. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group upped their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $302.30.

Automatic Data Processing Trading Down 0.3 %

NASDAQ ADP opened at $293.28 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50 day moving average price is $301.27 and its two-hundred day moving average price is $298.11. The stock has a market capitalization of $119.50 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock worth $1,447,893 over the last 90 days. Company insiders own 0.21% of the company’s stock.

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.