NBT Bank N A NY Has $13 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

NBT Bank N A NY lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,405 shares of the business services provider’s stock after selling 1,142 shares during the quarter. Automatic Data Processing accounts for approximately 0.9% of NBT Bank N A NY’s investment portfolio, making the stock its 23rd largest position. NBT Bank N A NY’s holdings in Automatic Data Processing were worth $12,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after acquiring an additional 286,080 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after acquiring an additional 41,709 shares during the last quarter. Amundi boosted its holdings in Automatic Data Processing by 16.8% in the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after acquiring an additional 449,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Automatic Data Processing by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock valued at $679,675,000 after acquiring an additional 69,042 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $306.45 on Monday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The business’s fifty day moving average is $302.08 and its 200 day moving average is $293.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $124.87 billion, a P/E ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 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.