Tompkins Financial Corp Acquires 52 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tompkins Financial Corp raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% during the first quarter, Holdings Channel reports. The fund owned 11,002 shares of the business services provider’s stock after buying an additional 52 shares during the period. Tompkins Financial Corp’s holdings in Automatic Data Processing were worth $3,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Main Street Group LTD grew its position in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC grew its position in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 67 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $324.12 on Friday. The stock has a fifty day moving average of $303.22 and a 200 day moving average of $301.62. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $327.99. The firm has a market capitalization of $131.57 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ADP shares. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Wall Street Zen cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. Finally, 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 report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $305.64.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,218,112.80. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 over the last quarter. 0.21% of the stock is owned by company 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.