Home Federal Bank of Tennessee Trims Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Home Federal Bank of Tennessee lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 3.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,115 shares of the business services provider’s stock after selling 380 shares during the quarter. Automatic Data Processing comprises 0.9% of Home Federal Bank of Tennessee’s portfolio, making the stock its 17th largest position. Home Federal Bank of Tennessee’s holdings in Automatic Data Processing were worth $2,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McKinley Carter Wealth Services Inc. lifted its stake in shares of Automatic Data Processing by 3.1% in the second quarter. McKinley Carter Wealth Services Inc. now owns 10,969 shares of the business services provider’s stock worth $2,304,000 after buying an additional 325 shares in the last quarter. HB Wealth Management LLC lifted its position in Automatic Data Processing by 4.2% during the second quarter. HB Wealth Management LLC now owns 21,051 shares of the business services provider’s stock valued at $4,422,000 after purchasing an additional 840 shares during the period. Ritholtz Wealth Management lifted its position in Automatic Data Processing by 21.2% during the second quarter. Ritholtz Wealth Management now owns 4,132 shares of the business services provider’s stock valued at $868,000 after purchasing an additional 724 shares during the period. Gilman Hill Asset Management LLC lifted its position in Automatic Data Processing by 3.3% during the second quarter. Gilman Hill Asset Management LLC now owns 1,703 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 54 shares during the period. Finally, Capital City Trust Co. FL lifted its position in Automatic Data Processing by 5.0% during the second quarter. Capital City Trust Co. FL now owns 5,256 shares of the business services provider’s stock valued at $1,104,000 after purchasing an additional 248 shares during the period. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 37,594 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $237.95, for a total transaction of $8,945,492.30. Following the completion of the sale, the chief executive officer now directly owns 44,426 shares in the company, valued at approximately $10,571,166.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 37,594 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $237.95, for a total transaction of $8,945,492.30. Following the completion of the sale, the chief executive officer now directly owns 44,426 shares in the company, valued at approximately $10,571,166.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 58,864 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total transaction of $13,932,520.16. Following the completion of the transaction, the chief executive officer now owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,349 shares of company stock valued at $25,576,129. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Cowen increased their price objective on shares of Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Wolfe Research lowered their price objective on shares of Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Barclays increased their price objective on shares of Automatic Data Processing to $280.00 in a research report on Tuesday, August 9th. Finally, Cowen increased their price target on shares of Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $236.85.

Automatic Data Processing Stock Down 0.3 %

Shares of Automatic Data Processing stock traded down $0.63 on Friday, reaching $229.84. The stock had a trading volume of 41,814 shares, compared to its average volume of 1,759,723. The company has a 50 day moving average price of $240.78 and a 200 day moving average price of $225.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. Automatic Data Processing, Inc. has a 1 year low of $192.26 and a 1 year high of $261.59. The stock has a market capitalization of $95.50 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.39 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 8.05 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is presently 59.34%.

Automatic Data Processing Company Profile

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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.

See Also

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

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