Town & Country Bank & Trust CO dba First Bankers Trust CO Sells 2,677 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.9% in the first quarter, Holdings Channel.com reports. The fund owned 9,529 shares of the business services provider’s stock after selling 2,677 shares during the period. Automatic Data Processing comprises approximately 1.1% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s portfolio, making the stock its 27th largest holding. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Automatic Data Processing were worth $2,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Howard Financial Services LTD. raised its holdings in shares of Automatic Data Processing by 2.2% during the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider’s stock valued at $530,000 after acquiring an additional 38 shares in the last quarter. Bath Savings Trust Co raised its holdings in shares of Automatic Data Processing by 0.3% during the first quarter. Bath Savings Trust Co now owns 99,612 shares of the business services provider’s stock valued at $30,434,000 after acquiring an additional 313 shares in the last quarter. Exeter Financial LLC raised its holdings in shares of Automatic Data Processing by 0.7% during the first quarter. Exeter Financial LLC now owns 13,696 shares of the business services provider’s stock valued at $4,184,000 after acquiring an additional 90 shares in the last quarter. Legacy Private Trust Co. bought a new position in shares of Automatic Data Processing during the first quarter valued at approximately $353,000. Finally, Versant Capital Management Inc raised its holdings in shares of Automatic Data Processing by 10.6% during the first quarter. Versant Capital Management Inc now owns 1,653 shares of the business services provider’s stock valued at $505,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.0%

NASDAQ ADP opened at $324.12 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $327.99. The stock has a market cap of $131.57 billion, a P/E ratio of 33.80, a P/E/G ratio of 3.62 and a beta of 0.76. The stock’s fifty day moving average price is $303.22 and its 200-day moving average price is $301.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the firm posted $2.88 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.90%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,451 shares of company stock valued at $743,024. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several recent research reports. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $305.64.

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.