Thomasville National Bank Has $748,000 Stock Position in Automatic Data Processing (NASDAQ:ADP)

Thomasville National Bank boosted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,631 shares of the business services provider’s stock after acquiring an additional 198 shares during the quarter. Thomasville National Bank’s holdings in Automatic Data Processing were worth $748,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Nuveen Asset Management LLC boosted its stake in Automatic Data Processing by 40,836.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock worth $780,281,000 after acquiring an additional 4,708,009 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in Automatic Data Processing by 17,208.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock worth $72,921,000 after acquiring an additional 724,995 shares during the last quarter. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after acquiring an additional 644,178 shares during the last quarter. Morgan Stanley boosted its stake in Automatic Data Processing by 6.5% during the 2nd quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after acquiring an additional 516,484 shares during the last quarter. Finally, Investec Asset Management LTD boosted its stake in Automatic Data Processing by 217.5% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $40,267,000 after acquiring an additional 444,270 shares during the last quarter. 80.26% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares in the company, valued at $1,057,916.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total value of $7,986,686.40. Following the completion of the transaction, the chief executive officer now owns 132,338 shares in the company, valued at $21,399,054.60. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several research analysts recently weighed in on the stock. Bank of America lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 11th. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a research note on Friday, June 21st. Robert W. Baird lifted their price target on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. ValuEngine lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $176.10.

NASDAQ:ADP traded up $0.98 during trading hours on Friday, hitting $158.52. 338,907 shares of the stock were exchanged, compared to its average volume of 2,213,180. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $174.50. The firm’s fifty day moving average price is $164.50 and its 200 day moving average price is $163.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. The company has a market cap of $69.58 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.00 and a beta of 0.90.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. Automatic Data Processing’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. Equities analysts expect that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

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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