City Holding Co. Grows Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

City Holding Co. grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,664 shares of the business services provider’s stock after buying an additional 221 shares during the period. City Holding Co.’s holdings in Automatic Data Processing were worth $5,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock valued at $11,923,265,000 after purchasing an additional 277,324 shares during the last quarter. Geode Capital Management LLC increased its position in Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock valued at $3,098,305,000 after acquiring an additional 65,965 shares during the last quarter. Northern Trust Corp increased its position in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after acquiring an additional 902,354 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Automatic Data Processing by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock worth $1,137,710,000 after acquiring an additional 219,032 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $305.64.

Insider Buying and Selling at Automatic Data Processing

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

Automatic Data Processing Stock Up 0.2%

Shares of NASDAQ:ADP opened at $326.81 on Monday. The business’s 50 day moving average is $305.96 and its 200 day moving average is $302.64. The stock has a market cap of $132.66 billion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.88 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

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.