National Bank of Canada FI Purchases 240,524 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

National Bank of Canada FI grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 60.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 638,487 shares of the business services provider’s stock after purchasing an additional 240,524 shares during the period. National Bank of Canada FI’s holdings in Automatic Data Processing were worth $149,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Fortitude Family Office LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at about $35,000. Raleigh Capital Management Inc. lifted its stake in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares during the period. Evolution Advisers Inc. bought a new position in Automatic Data Processing during the fourth quarter worth about $41,000. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $42,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,829 shares of company stock valued at $965,274. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. reduced their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday. Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Barclays raised their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Down 0.1 %

Shares of ADP traded down $0.14 during mid-day trading on Friday, hitting $241.89. 1,491,532 shares of the company’s stock were exchanged, compared to its average volume of 1,451,137. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The company has a market cap of $99.37 billion, a PE ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. The company has a 50-day simple moving average of $245.63 and a 200 day simple moving average of $239.08.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm earned $2.52 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.32%. Automatic Data Processing’s payout ratio is presently 62.50%.

Automatic Data Processing Company Profile

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.