Community Bank N.A. Sells 99 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Community Bank N.A. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 12,552 shares of the business services provider’s stock after selling 99 shares during the period. Community Bank N.A.’s holdings in Automatic Data Processing were worth $2,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Automatic Data Processing by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after purchasing an additional 198,008 shares in the last quarter. Northern Trust Corp grew its position in shares of Automatic Data Processing by 5.1% during the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock worth $1,420,028,000 after purchasing an additional 288,234 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock worth $1,261,327,000 after purchasing an additional 77,187 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after purchasing an additional 553,946 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after purchasing an additional 905,043 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADP shares. Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $254.58.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP David Kwon sold 863 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last quarter. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP traded down $0.23 on Wednesday, hitting $246.61. The company had a trading volume of 1,453,943 shares, compared to its average volume of 1,804,052. The stock has a market capitalization of $101.31 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 2.31 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 0.69. The firm has a 50 day moving average of $247.01 and a two-hundred day moving average of $239.26. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Automatic Data Processing 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.