Hancock Whitney Corp Has $2.17 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hancock Whitney Corp lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,088 shares of the business services provider’s stock after selling 77 shares during the quarter. Hancock Whitney Corp’s holdings in Automatic Data Processing were worth $2,169,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ADP. Gryphon Financial Partners LLC lifted its position in Automatic Data Processing by 105.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock worth $467,000 after buying an additional 1,034 shares in the last quarter. Assetmark Inc. boosted its position in Automatic Data Processing by 9.5% during the fourth quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock valued at $674,000 after purchasing an additional 251 shares during the last quarter. SageView Advisory Group LLC boosted its position in Automatic Data Processing by 140.6% during the fourth quarter. SageView Advisory Group LLC now owns 2,399 shares of the business services provider’s stock valued at $572,000 after purchasing an additional 1,402 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in Automatic Data Processing by 4.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 12,977 shares of the business services provider’s stock valued at $3,072,000 after purchasing an additional 573 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its position in shares of Automatic Data Processing by 60.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 9,840 shares of the business services provider’s stock worth $2,293,000 after purchasing an additional 3,707 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ADP. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays boosted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of 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, Bank of America lifted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Trading Down 0.5 %

Shares of NASDAQ:ADP opened at $276.41 on Friday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The business has a 50 day moving average of $264.76 and a 200-day moving average of $251.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $113.13 billion, a PE ratio of 30.85, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 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, October 1st. Investors of record on Friday, September 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the 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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

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.