First National Bank of Mount Dora Trust Investment Services cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 40.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,719 shares of the business services provider's stock after selling 1,167 shares during the quarter. First National Bank of Mount Dora Trust Investment Services' holdings in Automatic Data Processing were worth $525,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ADP. AMG National Trust Bank lifted its position in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC lifted its position in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after buying an additional 36 shares during the last quarter. Canton Hathaway LLC grew its holdings in Automatic Data Processing by 6.7% during the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider's stock valued at $174,000 after purchasing an additional 37 shares during the last quarter. Finally, Delta Financial Advisors LLC grew its position in shares of Automatic Data Processing by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider's stock valued at $4,266,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 80.03% of the company's stock.
Automatic Data Processing Stock Performance
ADP traded down $2.16 during midday trading on Wednesday, hitting $312.36. 1,323,495 shares of the company were exchanged, compared to its average volume of 1,702,953. The company's 50 day simple moving average is $306.37 and its 200 day simple moving average is $302.82. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $126.79 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period last year, the company posted $2.88 EPS. The business's revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.
Automatic Data Processing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $305.64.
View Our Latest Research Report on Automatic Data Processing
Insiders Place Their Bets
In related news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.
Automatic Data Processing Company Profile
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Free Report)
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.
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