Community Bank N.A. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Community Bank N.A. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,922 shares of the business services provider’s stock after selling 105 shares during the quarter. Community Bank N.A.’s holdings in Automatic Data Processing were worth $3,490,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing during the third quarter valued at approximately $26,000. Dunhill Financial LLC raised its holdings in shares of 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. Cyrus J. Lawrence LLC raised its holdings in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $37,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $296.18.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 over the last quarter. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $295.32 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a market cap of $120.33 billion, a PE ratio of 30.79, a P/E/G ratio of 3.62 and a beta of 0.76. The stock has a 50 day simple moving average of $303.08 and a 200-day simple moving average of $295.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

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.