Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Farmers Trust Co.

Farmers Trust Co. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,852 shares of the business services provider’s stock after selling 131 shares during the quarter. Farmers Trust Co.’s holdings in Automatic Data Processing were worth $513,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC grew its stake in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the first quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the first quarter valued at $36,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $39,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADP. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Trading Up 0.4 %

Shares of ADP opened at $284.62 on Friday. The business’s 50-day moving average price is $270.29 and its 200 day moving average price is $253.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $116.49 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $285.67.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In related news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.