First Financial Bank Trust Division Sells 200 Shares of Automatic Data Processing (NASDAQ:ADP)

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First Financial Bank Trust Division cut its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,492 shares of the business services provider’s stock after selling 200 shares during the quarter. First Financial Bank Trust Division’s holdings in Automatic Data Processing were worth $1,900,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ADP. Enterprise Financial Services Corp raised its holdings in shares of Automatic Data Processing by 2.0% during the 1st quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock worth $514,000 after acquiring an additional 64 shares in the last quarter. Bank of The West raised its holdings in shares of Automatic Data Processing by 1.4% during the 1st quarter. Bank of The West now owns 4,649 shares of the business services provider’s stock worth $743,000 after acquiring an additional 66 shares in the last quarter. BTR Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 1.3% during the 1st quarter. BTR Capital Management Inc. now owns 5,252 shares of the business services provider’s stock worth $839,000 after acquiring an additional 67 shares in the last quarter. Berman Capital Advisors LLC raised its holdings in shares of Automatic Data Processing by 2.5% during the 1st quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock worth $443,000 after acquiring an additional 67 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of Automatic Data Processing by 27.5% during the 4th quarter. Valley National Advisers Inc. now owns 325 shares of the business services provider’s stock worth $43,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

ADP has been the topic of several recent research reports. Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a report on Friday, June 21st. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Barclays upped their price objective on WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Sanford C. Bernstein cut Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Finally, Citigroup cut BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $167.00.

NASDAQ:ADP traded up $0.77 during midday trading on Tuesday, hitting $167.91. 934,609 shares of the company traded hands, compared to its average volume of 1,942,664. The firm has a fifty day moving average price of $165.30. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $170.45. The stock has a market cap of $72.45 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 2.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm posted $1.57 EPS. Automatic Data Processing’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Automatic Data Processing will post 5.44 earnings per share for the current fiscal year.

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

Automatic Data Processing Company 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.

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

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