First National Bank of Mount Dora Trust Investment Services Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

First National Bank of Mount Dora Trust Investment Services decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 60.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,297 shares of the business services provider’s stock after selling 5,093 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Automatic Data Processing were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. Whittier Trust Co. boosted its holdings in shares of Automatic Data Processing by 1.6% in the first quarter. Whittier Trust Co. now owns 26,102 shares of the business services provider’s stock worth $6,519,000 after buying an additional 399 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Automatic Data Processing by 0.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 12,954 shares of the business services provider’s stock valued at $3,235,000 after purchasing an additional 85 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Automatic Data Processing during the first quarter valued at approximately $241,000. Proficio Capital Partners LLC lifted its holdings in Automatic Data Processing by 6.6% during the first quarter. Proficio Capital Partners LLC now owns 3,681 shares of the business services provider’s stock valued at $919,000 after purchasing an additional 227 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Automatic Data Processing by 47.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,356 shares of the business services provider’s stock valued at $4,584,000 after purchasing an additional 5,911 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 over the last quarter. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP traded up $2.51 during trading hours on Monday, hitting $290.69. The company’s stock had a trading volume of 199,673 shares, compared to its average volume of 1,630,632. The business’s 50-day moving average price is $281.57 and its 200-day moving average price is $260.13. Automatic Data Processing, Inc. has a 12 month low of $218.63 and a 12 month high of $294.18. The stock has a market cap of $118.55 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 3.32 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.97 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday. Finally, UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.