Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lessened by First National Trust Co

First National Trust Co decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,377 shares of the business services provider’s stock after selling 1,618 shares during the period. First National Trust Co’s holdings in Automatic Data Processing were worth $11,270,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ADP. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $25,000. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $35,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $41,000. Raleigh Capital Management Inc. grew its stake in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.1 %

NASDAQ ADP traded down $0.14 during trading on Friday, reaching $241.89. 1,491,532 shares of the company’s stock were exchanged, compared to its average volume of 1,451,137. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The firm has a market capitalization of $99.37 billion, a PE ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $245.63 and its 200-day simple moving average is $239.08.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company posted $2.52 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Automatic Data Processing’s payout ratio is presently 62.50%.

Insider Activity

In other news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock worth $965,274 in the last three months. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADP shares. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Barclays boosted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Mizuho upped their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.42.

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.