National Bank of Canada FI Has $141.99 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• National Bank of Canada FI has increased its stake in Automatic Data Processing, Inc. by 22.6%, owning approximately 0.11% of the company after acquiring 85,755 additional shares.
• Automatic Data Processing reported $2.26 EPS for the last quarter, surpassing analysts' expectations, and had a revenue of $5.13 billion, reflecting a 6.3% year-over-year increase.
• The company declared a quarterly dividend of $1.54 to be paid on October 1st, representing an annualized yield of 2.0%.

National Bank of Canada FI increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 22.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 464,739 shares of the business services provider's stock after purchasing an additional 85,755 shares during the period. National Bank of Canada FI owned 0.11% of Automatic Data Processing worth $141,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. AlphaCore Capital LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth approximately $688,000. Golden State Wealth Management LLC raised its stake in shares of Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after acquiring an additional 129 shares during the last quarter. GAMMA Investing LLC grew its holdings in Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after purchasing an additional 1,148 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after buying an additional 21,910 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Automatic Data Processing by 8.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after purchasing an additional 20,467 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

ADP traded down $2.04 during mid-day trading on Tuesday, reaching $301.68. 431,525 shares of the company traded hands, compared to its average volume of 1,741,575. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 52-week low of $259.08 and a 52-week high of $329.93. The stock has a market capitalization of $122.19 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.80 and a beta of 0.81. The company's fifty day moving average price is $307.69 and its 200-day moving average price is $305.58.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 EPS. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's payout ratio is currently 61.72%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Morgan Stanley upped their price target on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. TD Securities upped their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Finally, UBS Group cut their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and an average target price of $314.33.

Automatic Data Processing 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.