American National Bank Acquires New Stake in Automatic Data Processing (ADP)

American National Bank acquired a new position in Automatic Data Processing (NASDAQ:ADP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,970 shares of the business services provider’s stock, valued at approximately $954,000.

Other large investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in Automatic Data Processing by 18,918.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 23,339,116 shares during the last quarter. Lunia Capital LP raised its stake in Automatic Data Processing by 14,251.9% in the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after purchasing an additional 18,239,702 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Automatic Data Processing by 213.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock worth $1,301,682,000 after acquiring an additional 5,880,242 shares during the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $522,489,000. Finally, BlackRock Inc. increased its stake in shares of Automatic Data Processing by 5.4% in the 4th quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after acquiring an additional 1,587,214 shares during the last quarter. Hedge funds and other institutional investors own 80.45% of the company’s stock.

Shares of ADP opened at $163.31 on Monday. Automatic Data Processing has a 52-week low of $112.58 and a 52-week high of $163.38. The firm has a market capitalization of $70.43 billion, a price-to-earnings ratio of 37.54, a P/E/G ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05.



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

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

A number of analysts have issued reports on the company. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “sell” rating in a research note on Wednesday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Buy” and an average target price of $153.43.

In related news, VP Stuart Sackman sold 1,478 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the transaction, the vice president now directly owns 24,122 shares in the company, valued at approximately $3,742,045.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Maria Black sold 1,614 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $146.61, for a total value of $236,628.54. Following the transaction, the vice president now owns 17,691 shares of the company’s stock, valued at $2,593,677.51. The disclosure for this sale can be found here. Insiders have sold a total of 86,721 shares of company stock valued at $12,714,980 over the last three months. Corporate insiders own 0.33% of the company’s stock.

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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.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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