Zions Bancorporation National Association UT Invests $498,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Zions Bancorporation National Association UT acquired 1,630 shares of Automatic Data Processing, Inc. (NASDAQ:ADP), valued at approximately $498,000 during the first quarter.
• Automatic Data Processing reported an earnings per share (EPS) of $2.26, exceeding analysts' expectations, with revenue of $5.13 billion for the quarter.
• The company announced a quarterly dividend of $1.54 per share, reflecting a 2.0% yield, with the payout date set for October 1st.

Zions Bancorporation National Association UT purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,630 shares of the business services provider's stock, valued at approximately $498,000.

Several other large investors also recently modified their holdings of the stock. Sentinus LLC raised its position in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after buying an additional 35 shares in the last quarter. Syntegra Private Wealth Group LLC increased its stake 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 valued at $238,000 after acquiring an additional 35 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised its position in Automatic Data Processing by 2.4% during the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock valued at $478,000 after purchasing an additional 37 shares in the last quarter. Finally, Main Street Group LTD lifted its stake in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 1.8%

Shares of NASDAQ ADP traded up $5.32 during trading hours on Wednesday, hitting $304.95. The company's stock had a trading volume of 2,350,926 shares, compared to its average volume of 1,505,826. Automatic Data Processing, Inc. has a 12 month low of $260.36 and a 12 month high of $329.93. The stock has a market cap of $123.52 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 2.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50-day simple moving average of $307.15 and a 200-day simple moving average of $305.54.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion during 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 for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $1.54 dividend. The ex-dividend date is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.0%. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a report on Thursday, July 10th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $314.33.

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.