Community Bank N.A. Reduces Holdings in Automatic Data Processing (NASDAQ:ADP)

Community Bank N.A. trimmed its stake in Automatic Data Processing (NASDAQ:ADP) by 1.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 19,263 shares of the business services provider’s stock after selling 258 shares during the quarter. Community Bank N.A.’s holdings in Automatic Data Processing were worth $3,185,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Horan Capital Advisors LLC. purchased a new position in Automatic Data Processing during the 1st quarter valued at about $31,000. Paragon Capital Management LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $32,000. C J Advisory Inc purchased a new position in Automatic Data Processing during the 1st quarter valued at about $32,000. Cypress Capital Management LLC WY lifted its position in Automatic Data Processing by 257.1% during the 1st quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 144 shares during the period. Finally, Permanens Capital L.P. purchased a new position in Automatic Data Processing during the 1st quarter valued at about $32,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ADP opened at $163.39 on Wednesday. The firm’s 50 day simple moving average is $165.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04. The company has a market capitalization of $71.49 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.05 and a beta of 0.91. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. Analysts predict that Automatic Data Processing will post 6.15 EPS for the current fiscal year.

In related news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the sale, the vice president now directly owns 14,896 shares in the company, valued at $2,413,747.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

ADP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Barclays lifted their price target on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird lifted their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $170.64.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Recommended Story: What is a balanced fund?

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.