Synovus Financial Corp boosted its position in Automatic Data Processing (NYSE:ADP) by 27.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,381 shares of the company’s stock after buying an additional 23,050 shares during the period. Synovus Financial Corp’s holdings in Automatic Data Processing were worth $9,474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADP. Zions Bancorporation increased its position in Automatic Data Processing by 228.5% in the second quarter. Zions Bancorporation now owns 1,189 shares of the company’s stock worth $110,000 after buying an additional 827 shares during the period. Cornerstone Advisors Inc. increased its position in Automatic Data Processing by 406.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,246 shares of the company’s stock worth $114,000 after buying an additional 1,000 shares during the period. Hanson McClain Inc. increased its position in Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock worth $118,000 after buying an additional 25 shares during the period. Peddock Capital Advisors LLC purchased a new position in Automatic Data Processing during the third quarter worth approximately $128,000. Finally, Pinkerton Retirement Specialists LLC purchased a new position in Automatic Data Processing during the second quarter worth approximately $133,000.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

Shares of Automatic Data Processing (NYSE:ADP) opened at 103.5895 on Friday. The company has a market cap of $46.74 billion and a PE ratio of 30.9963. The stock’s 50 day moving average price is $99.32 and its 200-day moving average price is $92.08. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $103.98.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. On average, equities research analysts forecast that Automatic Data Processing will post $3.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Friday, December 9th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.53.

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A number of equities analysts have commented on the company. Barclays PLC assumed coverage on Automatic Data Processing in a research note on Tuesday, December 20th. They issued an “overweight” rating and a $115.00 target price for the company. Goldman Sachs Group, Inc. (The) upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Friday, December 16th. BMO Capital Markets restated a “hold” rating on shares of Automatic Data Processing in a research note on Thursday, November 3rd. Finally, Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $99.44.

In other news, VP Thomas J. Perrotti sold 2,495 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $102.38, for a total transaction of $255,438.10. Following the completion of the transaction, the vice president now owns 14,295 shares of the company’s stock, valued at $1,463,522.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jan Siegmund sold 11,376 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $99.00, for a total transaction of $1,126,224.00. Following the transaction, the insider now directly owns 63,569 shares of the company’s stock, valued at approximately $6,293,331. The disclosure for this sale can be found here.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

5 Day Chart for NYSE:ADP

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