Capital City Trust Co. FL Cuts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital City Trust Co. FL decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,076 shares of the business services provider’s stock after selling 96 shares during the period. Capital City Trust Co. FL’s holdings in Automatic Data Processing were worth $1,193,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Moloney Securities Asset Management LLC purchased a new stake in Automatic Data Processing in the third quarter worth approximately $209,000. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing in the fourth quarter worth approximately $708,000. Nomura Asset Management Co. Ltd. raised its position in shares of Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $470,000. Finally, Dash Acquisitions Inc. raised its position in shares of Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

ADP stock opened at $310.76 on Friday. The firm’s fifty day simple moving average is $298.72 and its 200-day simple moving average is $290.11. The company has a market capitalization of $126.62 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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%. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 in the last ninety days. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADP shares. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group lifted their price target 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. Finally, Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.55.

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.