CNB Bank Sells 120 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

CNB Bank reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 901 shares of the business services provider’s stock after selling 120 shares during the quarter. CNB Bank’s holdings in Automatic Data Processing were worth $210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC increased its holdings in shares of Automatic Data Processing by 94,265.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after buying an additional 6,763,553 shares during the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $531,416,000. Imprint Wealth LLC increased its holdings in shares of Automatic Data Processing by 24,743.9% in the 2nd quarter. Imprint Wealth LLC now owns 987,795 shares of the business services provider’s stock worth $98,780,000 after buying an additional 983,819 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Automatic Data Processing by 22,539.4% in the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after buying an additional 930,199 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Automatic Data Processing by 40.7% in the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after buying an additional 905,043 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Up 0.5 %

Automatic Data Processing stock traded up $1.32 during trading hours on Friday, hitting $243.31. The company had a trading volume of 1,638,705 shares, compared to its average volume of 1,328,916. The firm has a market cap of $99.95 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The company has a 50-day moving average price of $247.22 and a two-hundred day moving average price of $239.23.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is presently 65.19%.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were 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 owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Kwon sold 863 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,162 shares of company stock valued at $3,741,859. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ADP shares. Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $254.58.

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.