American National Bank Buys New Holdings in Automatic Data Processing (ADP)

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American National Bank bought a new stake in Automatic Data Processing (NASDAQ:ADP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,970 shares of the business services provider’s stock, valued at approximately $954,000.

Other large investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC lifted its position in shares of Automatic Data Processing by 1,376.9% in the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 179 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at $26,000. AlphaMark Advisors LLC lifted its position in shares of Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. Lake Point Wealth Management purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at $26,000. Finally, Horan Securities Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at $31,000. 80.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ADP opened at $163.31 on Monday. The stock has a market cap of $70.43 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.31 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. Automatic Data Processing has a 12 month low of $112.58 and a 12 month high of $163.38.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.16. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. Research analysts predict that Automatic Data Processing will post 5.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio is presently 72.64%.

In other news, CEO Carlos A. Rodriguez sold 36,364 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $149.05, for a total value of $5,420,054.20. Following the completion of the sale, the chief executive officer now owns 148,842 shares in the company, valued at $22,184,900.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Ayala sold 3,121 shares of the stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $133.98, for a total value of $418,151.58. Following the completion of the sale, the vice president now owns 4,140 shares of the company’s stock, valued at approximately $554,677.20. The disclosure for this sale can be found here. Insiders have sold 86,721 shares of company stock valued at $12,714,980 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on ADP. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Zacks Investment Research reiterated a “buy” rating and issued a $146.00 target price on shares of Automatic Data Processing in a research note on Monday, December 31st. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $153.43.

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About Automatic Data Processing

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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