Ames National Corp Takes $1.17 Million Position in Automatic Data Processing, Inc. $ADP

Ames National Corp acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 5,203 shares of the business services provider's stock, valued at approximately $1,165,000. Automatic Data Processing accounts for about 0.6% of Ames National Corp's investment portfolio, making the stock its 25th biggest holding.

A number of other large investors have also bought and sold shares of ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $28,000. Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $33,000. Finally, High Point Wealth Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $34,000. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 120 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president directly owned 9,660 shares of the company's stock, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,332 shares of company stock worth $898,211 over the last three months. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. UBS Group raised their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group cut their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Mizuho reduced their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Citigroup increased their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Finally, Guggenheim raised their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $273.50.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $283.01 on Tuesday. The firm has a market capitalization of $112.43 billion, a P/E ratio of 25.87 and a beta of 0.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm's fifty day moving average price is $250.86 and its two-hundred day moving average price is $226.50. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $307.80.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing's payout ratio is currently 62.16%.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source