Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by NBT Bank N A NY

NBT Bank N A NY cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% in the first quarter, Holdings Channel.com reports. The fund owned 42,416 shares of the business services provider’s stock after selling 1,989 shares during the period. Automatic Data Processing makes up approximately 0.9% of NBT Bank N A NY’s investment portfolio, making the stock its 24th biggest position. NBT Bank N A NY’s holdings in Automatic Data Processing were worth $12,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc lifted its position in shares of Automatic Data Processing by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider’s stock worth $45,647,000 after purchasing an additional 2,787 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after buying an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after buying an additional 1,117 shares during the period. Napatree Capital LLC grew its stake in shares of Automatic Data Processing by 2.7% in the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock worth $936,000 after acquiring an additional 84 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Automatic Data Processing by 16.1% during the fourth quarter. Venturi Wealth Management LLC now owns 7,890 shares of the business services provider’s stock worth $2,310,000 after acquiring an additional 1,092 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $307.91 on Tuesday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The firm has a market capitalization of $124.99 billion, a P/E ratio of 32.11, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $308.69 and its 200 day moving average price is $302.86.

Automatic Data Processing (NASDAQ:ADP) 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 the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the company posted $2.88 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 2.00%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

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 shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at $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 available at the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $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. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADP shares. 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 report on Wednesday, May 21st. Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. 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. Finally, Mizuho increased their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $306.82.

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.