Country Club Bank Has $1.35 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Country Club Bank grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,700 shares of the business services provider’s stock after acquiring an additional 119 shares during the quarter. Country Club Bank’s holdings in Automatic Data Processing were worth $1,353,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. BlueSpruce Investments LP acquired a new stake in Automatic Data Processing in the first quarter valued at approximately $365,757,000. Norges Bank bought a new stake in shares of Automatic Data Processing during the fourth quarter worth about $308,321,000. Capital Research Global Investors increased its stake in shares of Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after buying an additional 649,791 shares during the period. Nordea Investment Management AB boosted its position in Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after buying an additional 589,831 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after acquiring an additional 552,096 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADP shares. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen lowered their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Barclays raised their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $262.18.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ:ADP traded up $0.84 during mid-day trading on Thursday, hitting $263.66. 1,168,633 shares of the company traded hands, compared to its average volume of 1,680,273. The stock has a 50-day moving average price of $247.75 and a two-hundred day moving average price of $247.13. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $269.49. The stock has a market cap of $107.91 billion, a P/E ratio of 29.46, a P/E/G ratio of 2.72 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

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.