Community Bank N.A. Grows Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Community Bank N.A. boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,027 shares of the business services provider’s stock after acquiring an additional 125 shares during the period. Community Bank N.A.’s holdings in Automatic Data Processing were worth $3,328,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Accredited Investors Inc. boosted its position in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC raised its stake in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after buying an additional 1,190,407 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after acquiring an additional 435,093 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $306.93 on Monday. The company has a 50-day moving average price of $292.45 and a 200-day moving average price of $268.30. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $125.06 billion, a P/E ratio of 32.76, a PEG ratio of 3.57 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays upped their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $289.91.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 19,147 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This represents a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,504 shares of company stock worth $20,298,056. Corporate insiders own 0.21% of the company’s stock.

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.