First National Trust Co Sells 6,413 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• First National Trust Co reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 11.5% after selling 6,413 shares, leaving them with 49,271 shares valued at approximately $15 million.
• Several institutional investors increased their positions in ADP, with some acquiring new holdings during the quarter, contributing to a total of 80.03% of ADP being owned by hedge funds and institutional investors.
• Analysts have mixed ratings for ADP, with price targets ranging from $298 to $340, and an average consensus rating of "Hold".

First National Trust Co lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,271 shares of the business services provider's stock after selling 6,413 shares during the quarter. First National Trust Co's holdings in Automatic Data Processing were worth $15,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADP. Geode Capital Management LLC boosted its position in shares of Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock worth $3,098,305,000 after purchasing an additional 65,965 shares in the last quarter. Northern Trust Corp lifted its holdings in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock worth $1,807,438,000 after acquiring an additional 902,354 shares in the last quarter. Capital Research Global Investors grew its stake in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Invesco Ltd. raised its position in shares of Automatic Data Processing by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after purchasing an additional 219,032 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Automatic Data Processing by 16.7% during the 4th quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider's stock valued at $1,115,909,000 after purchasing an additional 549,132 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $9.06 on Friday, reaching $300.44. 1,791,558 shares of the company's stock were exchanged, compared to its average volume of 1,385,865. Automatic Data Processing, Inc. has a twelve month low of $256.47 and a twelve month high of $329.93. The company has a fifty day moving average of $310.70 and a 200-day moving average of $305.12. The company has a market capitalization of $121.95 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.84 and a beta of 0.81. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. UBS Group dropped their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Mizuho increased their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, Morgan Stanley upped their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and a consensus price target of $310.69.

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.