City Holding Co. Sells 1,320 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

City Holding Co. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,443 shares of the business services provider's stock after selling 1,320 shares during the quarter. City Holding Co.'s holdings in Automatic Data Processing were worth $4,813,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after buying an additional 51 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at $35,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Automatic Data Processing by 43.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 169 shares of the business services provider's stock worth $40,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company's stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company's 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 completion of the sale, the vice president now directly owns 32,604 shares of the company's stock, valued at $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 ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.05 during trading on Monday, reaching $296.18. The company's stock had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. The stock has a market capitalization of $120.68 billion, a PE ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average of $297.90 and a 200 day moving average of $280.60. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the firm posted $2.08 earnings per share. Automatic Data Processing's quarterly revenue was up 7.1% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th 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 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio is currently 65.74%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $289.91.

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.