CNB Bank Has $210,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

CNB Bank cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 901 shares of the business services provider’s stock after selling 120 shares during the period. CNB Bank’s holdings in Automatic Data Processing were worth $210,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ADP. Sei Investments Co. boosted its stake in Automatic Data Processing by 19.3% during the 1st quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock valued at $30,532,000 after purchasing an additional 21,671 shares during the last quarter. Dakota Wealth Management acquired a new position in Automatic Data Processing during the 1st quarter valued at about $571,000. Zions Bancorporation N.A. boosted its stake in Automatic Data Processing by 12.4% during the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 50 shares during the last quarter. Covestor Ltd boosted its stake in Automatic Data Processing by 82.8% during the 1st quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 288 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Automatic Data Processing by 4.4% during the 1st quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock worth $660,000 after buying an additional 121 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $1.32 during mid-day trading on Friday, reaching $243.31. The company’s stock had a trading volume of 1,638,705 shares, compared to its average volume of 1,328,916. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a market capitalization of $99.95 billion, a P/E ratio of 28.32, a PEG ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average price is $247.22 and its two-hundred day moving average price is $239.23.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $254.58.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.