Automatic Data Processing (ADP) Shares Sold by Capital City Trust Co. FL

Capital City Trust Co. FL trimmed its position in Automatic Data Processing (NASDAQ:ADP) by 12.0% in the 4th quarter, Holdings Channel reports. The firm owned 8,456 shares of the business services provider’s stock after selling 1,150 shares during the quarter. Capital City Trust Co. FL’s holdings in Automatic Data Processing were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its position in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares in the last quarter. Northwest Quadrant Wealth Management LLC raised its position in Automatic Data Processing by 0.5% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock valued at $458,000 after acquiring an additional 21 shares in the last quarter. Ironwood Investment Management LLC raised its position in Automatic Data Processing by 0.7% during the second quarter. Ironwood Investment Management LLC now owns 3,463 shares of the business services provider’s stock valued at $355,000 after acquiring an additional 25 shares in the last quarter. Savant Capital LLC raised its position in Automatic Data Processing by 0.5% during the second quarter. Savant Capital LLC now owns 4,729 shares of the business services provider’s stock valued at $484,000 after acquiring an additional 25 shares in the last quarter. Finally, PagnatoKarp Partners LLC raised its position in Automatic Data Processing by 1.1% during the second quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

ADP has been the subject of several recent research reports. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective for the company in a research report on Tuesday, November 14th. Sanford C. Bernstein boosted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Finally, Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $114.64.

Shares of Automatic Data Processing (NASDAQ ADP) traded down $1.11 during trading hours on Wednesday, hitting $117.65. The stock had a trading volume of 1,981,428 shares, compared to its average volume of 2,040,000. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $52,180.00, a price-to-earnings ratio of 29.86, a PEG ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were paid a $0.63 dividend. The ex-dividend date was Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. Automatic Data Processing’s payout ratio is currently 63.96%.

In other news, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the sale, the chief executive officer now directly owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael A. Bonarti sold 3,900 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. Insiders sold 115,505 shares of company stock worth $13,612,788 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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