Thomasville National Bank increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,656 shares of the business services provider’s stock after buying an additional 233 shares during the period. Thomasville National Bank’s holdings in Automatic Data Processing were worth $636,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ADP. Chandler Asset Management Inc. acquired a new position in Automatic Data Processing in the fourth quarter worth $26,000. Advisory Alpha LLC acquired a new position in shares of Automatic Data Processing during the third quarter valued at $29,000. Bainco International Investors acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at $34,000. Freedman Financial Associates Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at $35,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Automatic Data Processing by 1,005.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 221 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 79.65% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Automatic Data Processing from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Evercore ISI downgraded shares of Automatic Data Processing from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $197.00 to $143.00 in a report on Tuesday, January 12th. Mizuho began coverage on shares of Automatic Data Processing in a report on Wednesday, February 10th. They issued a “buy” rating and a $210.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Automatic Data Processing from $150.00 to $173.00 and gave the stock a “hold” rating in a report on Thursday, January 28th. Finally, Citigroup upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $190.00 in a research report on Friday, January 29th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and an average target price of $168.53.
Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Tuesday, January 26th. The business services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.57 billion. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 5.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is 62.84%.
In other Automatic Data Processing news, VP Deborah L. Dyson sold 600 shares of the company’s stock in a transaction that occurred on Monday, January 11th. The stock was sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the vice president now owns 24,786 shares of the company’s stock, valued at $4,236,670.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stuart Sackman sold 576 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $185.00, for a total value of $106,560.00. Following the sale, the vice president now directly owns 23,221 shares of the company’s stock, valued at approximately $4,295,885. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
About Automatic Data Processing
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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