Country Club Bank Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Country Club Bank increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,805 shares of the business services provider’s stock after purchasing an additional 105 shares during the period. Country Club Bank’s holdings in Automatic Data Processing were worth $1,584,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vicus Capital bought a new stake in Automatic Data Processing during the first quarter valued at about $211,000. New Mexico Educational Retirement Board boosted its position in Automatic Data Processing by 13.5% during the first quarter. New Mexico Educational Retirement Board now owns 24,443 shares of the business services provider’s stock valued at $5,562,000 after purchasing an additional 2,900 shares in the last quarter. Trilogy Capital Inc. bought a new stake in Automatic Data Processing during the first quarter valued at about $279,000. LVW Advisors LLC boosted its position in Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares in the last quarter. Finally, Oak Asset Management LLC boosted its position in Automatic Data Processing by 3.4% during the first quarter. Oak Asset Management LLC now owns 2,745 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.5 %

Shares of NASDAQ:ADP opened at $287.96 on Friday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The stock has a market cap of $117.86 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $279.40 and a 200-day moving average price of $258.45.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.89 earnings per share. Equities analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup raised their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $277.64.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. 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 ninety days, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by corporate insiders.

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.