Oakworth Capital Inc. Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Oakworth Capital Inc. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 96.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,967 shares of the business services provider’s stock after purchasing an additional 2,439 shares during the period. Oakworth Capital Inc.’s holdings in Automatic Data Processing were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Automatic Data Processing in the third quarter valued at $25,000. Coppell Advisory Solutions LLC acquired a new position in Automatic Data Processing in the second quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Automatic Data Processing during the first quarter worth about $31,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $33,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,162 shares of company stock valued at $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.6 %

NASDAQ ADP traded down $1.49 during mid-day trading on Wednesday, reaching $242.72. 517,130 shares of the company’s stock traded hands, compared to its average volume of 1,815,581. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The company has a fifty day simple moving average of $247.69 and a 200-day simple moving average of $239.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market cap of $99.71 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Analysts Set New Price Targets

ADP has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Mizuho increased their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $254.58.

About Automatic Data Processing

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.