Home Federal Bank of Tennessee Purchases 150 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Home Federal Bank of Tennessee lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,839 shares of the business services provider’s stock after purchasing an additional 150 shares during the quarter. Automatic Data Processing comprises 0.9% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 17th biggest holding. Home Federal Bank of Tennessee’s holdings in Automatic Data Processing were worth $2,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Petredis Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after buying an additional 37 shares during the last quarter. Moors & Cabot Inc. grew its position in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after buying an additional 39 shares during the period. Schmidt P J Investment Management Inc. increased its holdings in Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after buying an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC raised its position in shares of Automatic Data Processing by 22.1% in the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock worth $61,000 after acquiring an additional 40 shares during the period. Finally, Confluence Wealth Services Inc. lifted its position in shares of Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADP shares. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $275.33.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $1.72 during trading hours on Tuesday, hitting $289.19. The stock had a trading volume of 116,487 shares, compared to its average volume of 1,625,888. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The stock has a market capitalization of $118.36 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 3.13 and a beta of 0.79. The stock’s fifty day moving average is $277.27 and its two-hundred day moving average is $257.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. Automatic Data Processing’s payout ratio is currently 62.50%.

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.