Webster Bank N. A. Has $3.24 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Webster Bank N. A. boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 0.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,252 shares of the business services provider’s stock after buying an additional 98 shares during the period. Webster Bank N. A.’s holdings in Automatic Data Processing were worth $3,243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADP. Norges Bank acquired a new position in Automatic Data Processing during the fourth quarter worth about $566,438,000. Mackenzie Financial Corp grew its stake in shares of Automatic Data Processing by 1,386.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider’s stock worth $377,647,000 after buying an additional 1,428,484 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Automatic Data Processing by 38.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 3,568,467 shares of the business services provider’s stock valued at $713,408,000 after acquiring an additional 993,139 shares during the last quarter. BlackRock Inc. grew its position in Automatic Data Processing by 2.6% during the 4th quarter. BlackRock Inc. now owns 31,994,621 shares of the business services provider’s stock worth $7,889,233,000 after acquiring an additional 817,884 shares during the last quarter. Finally, State Street Corp increased its holdings in Automatic Data Processing by 2.0% in the 4th quarter. State Street Corp now owns 18,427,297 shares of the business services provider’s stock worth $4,562,432,000 after purchasing an additional 357,520 shares in the last quarter. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Deborah L. Dyson sold 2,787 shares of the company’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $234.55, for a total transaction of $653,690.85. Following the sale, the vice president now directly owns 26,663 shares of the company’s stock, valued at $6,253,806.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 312 shares of Automatic Data Processing stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $214.07, for a total transaction of $66,789.84. Following the completion of the transaction, the vice president now owns 1,663 shares of the company’s stock, valued at approximately $355,998.41. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Several analysts have recently weighed in on the company. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price target on the stock in a report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. Citigroup raised their price target on shares of Automatic Data Processing from $212.00 to $230.00 in a research note on Monday, May 2nd. Mizuho lifted their price target on shares of Automatic Data Processing from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, May 2nd. Finally, Barclays raised their target price on Automatic Data Processing from $238.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.69.

Shares of NASDAQ ADP opened at $207.40 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Automatic Data Processing, Inc. has a 12-month low of $192.26 and a 12-month high of $248.96. The company’s fifty day simple moving average is $216.80 and its 200 day simple moving average is $219.59. The firm has a market cap of $86.64 billion, a PE ratio of 30.64, a P/E/G ratio of 2.47 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The business services provider reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.13. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that Automatic Data Processing, Inc. will post 6.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, June 9th. Automatic Data Processing’s payout ratio is 61.45%.

Automatic Data Processing Profile (Get Rating)

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.

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