First National Trust Co Has $11.27 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

First National Trust Co decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 48,377 shares of the business services provider’s stock after selling 1,618 shares during the period. First National Trust Co’s holdings in Automatic Data Processing were worth $11,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Ardent Capital Management Inc. bought a new position in Automatic Data Processing during the 3rd quarter worth $392,000. Americana Partners LLC increased its position in Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after buying an additional 660 shares during the period. Everence Capital Management Inc. increased its position in Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after buying an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after buying an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $1,635,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $0.14 during mid-day trading on Friday, reaching $241.89. The company had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The business has a fifty day simple moving average of $245.63 and a 200 day simple moving average of $239.08. The company has a market cap of $99.37 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.52 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. TD Cowen cut their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI boosted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $255.42.

Insider Activity at Automatic Data Processing

In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock worth $965,274 in the last quarter. 0.26% of the stock is owned by insiders.

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.