UMB Bank n.a. Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

UMB Bank n.a. lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 48.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,186 shares of the business services provider's stock after buying an additional 18,892 shares during the period. UMB Bank n.a.'s holdings in Automatic Data Processing were worth $17,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Main Street Group LTD lifted its position in 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 during the period. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares during the period. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Activity at Automatic Data Processing

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

Wall Street Analyst Weigh In

Several analysts have recently commented on ADP shares. TD Securities upped their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday. Finally, UBS Group upped their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $305.64.

Automatic Data Processing Stock Performance

Shares of ADP traded up $0.58 during trading hours on Friday, hitting $326.81. The stock had a trading volume of 1,183,333 shares, compared to its average volume of 1,708,223. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50-day moving average price of $305.96 and a 200 day moving average price of $302.65. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The firm has a market capitalization of $132.66 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the business posted $2.88 EPS. The business's revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is currently 63.05%.

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.