Park National Corp OH Has $9.09 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Park National Corp OH lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,850 shares of the business services provider’s stock after selling 851 shares during the quarter. Park National Corp OH’s holdings in Automatic Data Processing were worth $9,091,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $27,000. Keener Financial Planning LLC increased its stake in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the first quarter worth $33,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the first quarter worth $36,000. Finally, New Millennium Group LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth $40,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ADP. Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Finally, Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $267.83.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $283.55 on Thursday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $283.76. The stock has a 50 day moving average of $269.59 and a 200-day moving average of $253.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $116.05 billion, a P/E ratio of 31.65, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share 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 company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. Automatic Data Processing’s payout ratio is presently 62.50%.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the 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 of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.