Texas Bank & Trust Co Takes $361,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Texas Bank & Trust Co purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,233 shares of the business services provider's stock, valued at approximately $361,000.

Several other large investors also recently bought and sold shares of the company. Grassi Investment Management acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $227,000. Merit Financial Group LLC increased its stake in Automatic Data Processing by 22.6% during the fourth quarter. Merit Financial Group LLC now owns 15,077 shares of the business services provider's stock worth $4,413,000 after acquiring an additional 2,775 shares during the last quarter. Lake Street Private Wealth LLC increased its position in Automatic Data Processing by 20.9% during the 4th quarter. Lake Street Private Wealth LLC now owns 1,123 shares of the business services provider's stock worth $329,000 after purchasing an additional 194 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Automatic Data Processing by 5.7% in the 4th quarter. Arkadios Wealth Advisors now owns 5,003 shares of the business services provider's stock valued at $1,465,000 after acquiring an additional 270 shares during the period. Finally, Premier Path Wealth Partners LLC raised its position in Automatic Data Processing by 5.2% in the fourth quarter. Premier Path Wealth Partners LLC now owns 3,207 shares of the business services provider's stock valued at $939,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.3%

NASDAQ ADP traded down $0.98 on Thursday, hitting $321.65. 1,273,166 shares of the company were exchanged, compared to its average volume of 1,701,227. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $351.72. The company's 50 day moving average price is $300.13 and its 200-day moving average price is $300.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $130.57 billion, a P/E ratio of 33.54, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 EPS. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing's dividend payout ratio is 63.05%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 in the last three months. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADP. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. TD Securities boosted their target price 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of "Hold" and an average price target of $305.64.

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.