Country Club Bank Has $1.67 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Country Club Bank lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,711 shares of the business services provider’s stock after selling 94 shares during the period. Country Club Bank’s holdings in Automatic Data Processing were worth $1,673,000 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. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Automatic Data Processing by 15.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,233 shares of the business services provider’s stock worth $38,207,000 after purchasing an additional 17,000 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in Automatic Data Processing during the fourth quarter worth $69,000. Stratos Investment Management LLC raised its position in Automatic Data Processing by 13.8% in the 4th quarter. Stratos Investment Management LLC now owns 1,901 shares of the business services provider’s stock valued at $557,000 after buying an additional 230 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Automatic Data Processing by 1.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 57,907 shares of the business services provider’s stock valued at $16,951,000 after acquiring an additional 644 shares in the last quarter. Finally, Sargent Investment Group LLC boosted its holdings in Automatic Data Processing by 6.6% during the 4th quarter. Sargent Investment Group LLC now owns 1,346 shares of the business services provider’s stock worth $391,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $308.15 on Thursday. The firm has a market cap of $125.56 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. The stock has a fifty day simple moving average of $297.15 and a two-hundred day simple moving average of $285.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

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.