Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by National Bank of Canada FI

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 raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 464,739 shares of the business services provider's stock after buying an additional 85,755 shares during the period. National Bank of Canada FI owned approximately 0.11% of Automatic Data Processing worth $141,989,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ADP. Sentinus LLC increased its stake in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Syntegra Private Wealth Group LLC raised its stake in shares of Automatic Data Processing by 4.7% during the 1st 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. Rehmann Capital Advisory Group raised its position in Automatic Data Processing by 1.0% during 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 in the last quarter. Detalus Advisors LLC lifted its stake in shares of Automatic Data Processing by 2.4% in the 1st 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 during the last quarter. Finally, Main Street Group LTD boosted its stake in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Up 0.6%

NASDAQ:ADP opened at $303.49 on Friday. The firm has a market capitalization of $123.19 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.77 and a beta of 0.81. Automatic Data Processing, Inc. has a 1-year low of $258.51 and a 1-year high of $329.93. The business's 50-day moving average price is $308.52 and its two-hundred day moving average price is $305.35. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data 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. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the prior year, the company earned $2.09 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued 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 is Friday, September 12th. Automatic Data Processing's payout ratio is 61.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ADP shares. Stifel Nicolaus raised their price target 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 objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley raised their target price on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus 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.

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