Adirondack Trust Co. Reduces Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Adirondack Trust Co. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,104 shares of the business services provider’s stock after selling 180 shares during the period. Adirondack Trust Co.’s holdings in Automatic Data Processing were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at $35,000. Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at $39,000. Raleigh Capital Management Inc. grew its position in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Automatic Data Processing during the 4th quarter worth $41,000. Finally, Bfsg LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADP. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Barclays raised their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, TD Cowen reduced their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $0.06 during midday trading on Tuesday, hitting $244.90. The company had a trading volume of 183,114 shares, compared to its average volume of 1,656,511. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The business has a 50-day simple moving average of $245.91 and a two-hundred day simple moving average of $243.18. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business earned $2.52 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

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.