Automatic Data Processing, Inc. $ADP Stake Boosted by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 42.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 703 shares of the business services provider’s stock after acquiring an additional 210 shares during the period. Bank of Jackson Hole Trust’s holdings in Automatic Data Processing were worth $217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Jacobsen Capital Management grew its holdings in shares of Automatic Data Processing by 3.8% during the 2nd quarter. Jacobsen Capital Management now owns 907 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 33 shares in the last quarter. Signature Wealth Management Group boosted its holdings in Automatic Data Processing by 2.3% in the second quarter. Signature Wealth Management Group now owns 1,450 shares of the business services provider’s stock worth $447,000 after purchasing an additional 33 shares in the last quarter. Bangor Savings Bank boosted its holdings in Automatic Data Processing by 0.7% in the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock worth $1,513,000 after purchasing an additional 34 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in Automatic Data Processing by 2.1% in the second quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock worth $502,000 after purchasing an additional 34 shares in the last quarter. Finally, Syntegra Private Wealth Group LLC boosted its holdings in Automatic Data Processing by 4.7% in the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after purchasing an additional 35 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.3%

Shares of NASDAQ:ADP opened at $279.63 on Wednesday. The company has a market cap of $113.28 billion, a P/E ratio of 28.02, a P/E/G ratio of 2.57 and a beta of 0.82. The stock’s 50-day moving average is $292.39 and its 200-day moving average is $302.08. Automatic Data Processing, Inc. has a 52-week low of $272.62 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $2.09 earnings per share. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.72%.

Insider Buying and Selling

In related news, VP Don Mcguire sold 13,599 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the sale, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. This trade represents a 43.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,373 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the sale, the vice president owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 in the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Automatic Data Processing in a report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective for the company. UBS Group decreased their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Wells Fargo & Company assumed coverage on shares of Automatic Data Processing in a report on Wednesday, October 22nd. They issued an “underweight” rating and a $288.00 price objective for the company. Finally, Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $313.17.

Automatic Data Processing Company Profile

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.