City Holding Co. Has $4.81 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

City Holding Co. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,443 shares of the business services provider’s stock after selling 1,320 shares during the quarter. City Holding Co.’s holdings in Automatic Data Processing were worth $4,813,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ADP. Seven Eight Capital LP acquired a new position in Automatic Data Processing in the second quarter valued at approximately $314,000. XTX Topco Ltd acquired a new stake in shares of Automatic Data Processing during the second quarter worth $1,032,000. AE Wealth Management LLC boosted its holdings in Automatic Data Processing by 28.5% during the second quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock worth $2,258,000 after buying an additional 2,096 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Automatic Data Processing by 5.7% during the 2nd quarter. Pacer Advisors Inc. now owns 68,079 shares of the business services provider’s stock worth $16,250,000 after buying an additional 3,682 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Automatic Data Processing by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock valued at $28,826,000 after acquiring an additional 4,427 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction on Monday, January 13th. The stock was 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 owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents 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 42,129 shares of company stock worth $12,604,872 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ADP shares. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays boosted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Down 0.0 %

Shares of NASDAQ:ADP opened at $296.18 on Monday. The stock has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The stock’s 50-day moving average price is $297.90 and its 200-day moving average price is $280.29. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the firm earned $2.08 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Automatic Data Processing 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.