Community Bank N.A. Trims Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Community Bank N.A. lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $35,000. Raleigh Capital Management Inc. raised its stake in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Bfsg LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $42,000. Finally, Carmel Capital Partners LLC raised its stake in Automatic Data Processing by 43.4% during the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho increased their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP traded down $0.23 during trading hours on Wednesday, hitting $246.61. The company’s stock had a trading volume of 1,453,943 shares, compared to its average volume of 1,804,052. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. 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 market capitalization of $101.31 billion, a PE ratio of 28.71, a PEG ratio of 2.31 and a beta of 0.78. The company has a 50-day simple moving average of $247.01 and a 200 day simple moving average of $239.26.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

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.