Farmers & Merchants Trust Co of Chambersburg PA lowered its position in Automatic Data Processing (NASDAQ:ADP) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,803 shares of the business services provider’s stock after selling 720 shares during the period. Automatic Data Processing makes up about 2.5% of Farmers & Merchants Trust Co of Chambersburg PA’s portfolio, making the stock its 5th largest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Automatic Data Processing were worth $2,844,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. HC Financial Advisors Inc. grew its position in Automatic Data Processing by 56.7% during the 3rd quarter. HC Financial Advisors Inc. now owns 19,655 shares of the business services provider’s stock worth $2,961,000 after purchasing an additional 7,115 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Automatic Data Processing by 213.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock valued at $1,301,682,000 after acquiring an additional 5,880,242 shares during the period. Bank of New York Mellon Corp lifted its stake in Automatic Data Processing by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,605,668 shares of the business services provider’s stock valued at $1,447,190,000 after acquiring an additional 121,162 shares during the period. Martingale Asset Management L P lifted its stake in Automatic Data Processing by 180.3% during the 3rd quarter. Martingale Asset Management L P now owns 331,166 shares of the business services provider’s stock valued at $49,894,000 after acquiring an additional 213,011 shares during the period. Finally, LPL Financial LLC lifted its stake in Automatic Data Processing by 11.2% during the 3rd quarter. LPL Financial LLC now owns 75,558 shares of the business services provider’s stock valued at $11,384,000 after acquiring an additional 7,632 shares during the period. 80.45% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Stuart Sackman sold 1,478 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the sale, the vice president now owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Maria Black sold 1,614 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $146.61, for a total transaction of $236,628.54. Following the sale, the vice president now directly owns 17,691 shares of the company’s stock, valued at approximately $2,593,677.51. The disclosure for this sale can be found here. Insiders have sold 86,721 shares of company stock valued at $12,714,980 in the last ninety days. Insiders own 0.33% of the company’s stock.
Several equities analysts recently issued reports on ADP shares. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $153.43.
NASDAQ:ADP traded up $0.13 during trading hours on Monday, reaching $163.44. 159,840 shares of the company were exchanged, compared to its average volume of 1,746,804. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $70.43 billion, a PE ratio of 37.57, a P/E/G ratio of 2.31 and a beta of 0.96. Automatic Data Processing has a twelve month low of $112.58 and a twelve month high of $163.38.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.16. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Research analysts forecast that Automatic Data Processing will post 5.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s payout ratio is 72.64%.
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About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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