City Holding Co. Decreases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

City Holding Co. cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,763 shares of the business services provider’s stock after selling 1,457 shares during the period. City Holding Co.’s holdings in Automatic Data Processing were worth $4,915,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADP. FCF Advisors LLC boosted its holdings in shares of Automatic Data Processing by 21.2% during the 3rd quarter. FCF Advisors LLC now owns 15,800 shares of the business services provider’s stock valued at $4,372,000 after acquiring an additional 2,761 shares during the last quarter. Atomi Financial Group Inc. lifted its position in Automatic Data Processing by 4.1% during the third quarter. Atomi Financial Group Inc. now owns 3,170 shares of the business services provider’s stock valued at $877,000 after purchasing an additional 126 shares during the period. Clean Yield Group boosted its holdings in Automatic Data Processing by 7.6% in the third quarter. Clean Yield Group now owns 20,602 shares of the business services provider’s stock worth $5,701,000 after purchasing an additional 1,451 shares during the last quarter. Trium Capital LLP grew its position in Automatic Data Processing by 40.0% in the 3rd quarter. Trium Capital LLP now owns 9,805 shares of the business services provider’s stock worth $2,713,000 after purchasing an additional 2,799 shares during the period. Finally, Evanson Asset Management LLC grew its position in Automatic Data Processing by 28.0% in the 3rd quarter. Evanson Asset Management LLC now owns 1,089 shares of the business services provider’s stock worth $301,000 after purchasing an additional 238 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $267.83.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $285.42 on Wednesday. The company has a market cap of $116.82 billion, a P/E ratio of 31.85, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $286.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $271.48 and its two-hundred day moving average is $254.30.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.