NBT Bank N A NY Has $12.96 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

NBT Bank N A NY decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,416 shares of the business services provider's stock after selling 1,989 shares during the quarter. Automatic Data Processing accounts for approximately 0.9% of NBT Bank N A NY's holdings, making the stock its 24th largest holding. NBT Bank N A NY's holdings in Automatic Data Processing were worth $12,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Brighton Jones LLC raised its stake in shares of Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,808 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Automatic Data Processing by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 41,150 shares of the business services provider's stock valued at $11,919,000 after acquiring an additional 5,803 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $957,000. Principal Securities Inc. increased its position in shares of Automatic Data Processing by 19.6% in the fourth quarter. Principal Securities Inc. now owns 7,041 shares of the business services provider's stock valued at $2,061,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Monument Capital Management increased its position in shares of Automatic Data Processing by 9.8% in the fourth quarter. Monument Capital Management now owns 1,192 shares of the business services provider's stock valued at $349,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $0.85 during midday trading on Wednesday, reaching $306.77. 1,427,194 shares of the company's stock were exchanged, compared to its average volume of 1,713,648. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $124.52 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 3.19 and a beta of 0.79. The stock's 50-day simple moving average is $308.94 and its 200 day simple moving average is $302.89.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the company posted $2.88 earnings per share. The business's revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the business's 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 completion of the sale, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the company's 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 sale, the vice president now owns 12,073 shares of the company's stock, valued at $3,686,852.74. The trade was a 11.05% 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.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. TD Securities lifted their target price 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 lowered their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Morgan Stanley lifted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $307.08.

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.