National Bank of Canada FI Has $110.94 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

National Bank of Canada FI lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 37.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 378,984 shares of the business services provider’s stock after selling 228,717 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Automatic Data Processing worth $110,943,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Kestra Investment Management LLC acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $224,000. Hilltop Holdings Inc. grew its stake in Automatic Data Processing by 515.3% during the third quarter. Hilltop Holdings Inc. now owns 19,024 shares of the business services provider’s stock worth $5,264,000 after purchasing an additional 15,932 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the third quarter worth approximately $26,000. Investment Management Corp of Ontario lifted its stake in Automatic Data Processing by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 13,604 shares of the business services provider’s stock valued at $3,765,000 after buying an additional 4,500 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of Automatic Data Processing by 16.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,826 shares of the business services provider’s stock worth $2,996,000 after buying an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.3 %

Automatic Data Processing stock opened at $306.54 on Wednesday. The firm has a 50 day simple moving average of $304.22 and a 200 day simple moving average of $296.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The firm has a market capitalization of $124.90 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $302.30.

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.