Umpqua Bank Purchases 486 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Umpqua Bank grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,485 shares of the business services provider’s stock after buying an additional 486 shares during the period. Umpqua Bank’s holdings in Automatic Data Processing were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC lifted its stake in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $296.18.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last ninety days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Trading Down 0.7 %

Shares of Automatic Data Processing stock opened at $295.32 on Friday. The firm has a market capitalization of $120.33 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $303.08 and its 200 day moving average is $295.22. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Automatic Data Processing 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.