First National Trust Co Sells 2,654 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

First National Trust Co cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,350 shares of the business services provider's stock after selling 2,654 shares during the period. First National Trust Co's holdings in Automatic Data Processing were worth $11,443,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ADP. Tower Wealth Partners Inc. raised its holdings in Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider's stock valued at $292,000 after acquiring an additional 35 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock valued at $482,000 after purchasing an additional 36 shares during the last quarter. Petredis Investment Advisors LLC increased its holdings in Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock valued at $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock worth $1,360,000 after purchasing an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC grew its holdings in shares of Automatic Data Processing by 4.4% during the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider's stock worth $255,000 after purchasing an additional 39 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 32,604 shares of the company's stock, valued at $9,781,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company's stock, valued at approximately $9,781,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company's stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Bank of America upped their target price 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. Mizuho lifted 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 report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price objective 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $289.91.

Automatic Data Processing Trading Up 0.6 %

NASDAQ:ADP traded up $1.84 on Tuesday, reaching $308.62. The company's stock had a trading volume of 277,116 shares, compared to its average volume of 1,628,062. Automatic Data Processing, Inc. has a 1-year low of $226.09 and a 1-year high of $309.21. The business's 50-day moving average price is $284.74 and its two-hundred day moving average price is $262.46. The firm has a market cap of $125.75 billion, a PE ratio of 32.74, a PEG ratio of 3.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th 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 2.00%. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 59.77%.

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.