Banco de Sabadell S.A Acquires Shares of 7,569 Automatic Data Processing (ADP)

Banco de Sabadell S.A acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,569 shares of the business services provider’s stock, valued at approximately $1,016,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Atria Investments LLC grew its position in Automatic Data Processing by 1.4% during the 2nd quarter. Atria Investments LLC now owns 26,851 shares of the business services provider’s stock worth $3,602,000 after acquiring an additional 374 shares during the last quarter. Rikoon Group LLC grew its position in Automatic Data Processing by 10.5% during the 1st quarter. Rikoon Group LLC now owns 3,990 shares of the business services provider’s stock worth $452,000 after acquiring an additional 379 shares during the last quarter. First Midwest Bank Trust Division grew its position in Automatic Data Processing by 5.1% during the 2nd quarter. First Midwest Bank Trust Division now owns 7,859 shares of the business services provider’s stock worth $1,054,000 after acquiring an additional 380 shares during the last quarter. Bbva Compass Bancshares Inc. grew its position in Automatic Data Processing by 2.1% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 19,489 shares of the business services provider’s stock worth $2,614,000 after acquiring an additional 392 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of Automatic Data Processing by 4.6% in the 2nd quarter. Private Trust Co. NA now owns 9,237 shares of the business services provider’s stock worth $1,239,000 after buying an additional 406 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

Shares of ADP stock opened at $146.92 on Friday. The company has a market capitalization of $64.40 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.51 and a beta of 0.91. Automatic Data Processing has a fifty-two week low of $106.25 and a fifty-two week high of $147.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.02. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. research analysts forecast that Automatic Data Processing will post 5.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.76 annualized dividend and a dividend yield of 1.88%. Automatic Data Processing’s dividend payout ratio is presently 63.45%.

In related news, VP Don Mcguire sold 1,140 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $145.78, for a total transaction of $166,189.20. Following the sale, the vice president now directly owns 6,476 shares in the company, valued at $944,071.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,372 shares of Automatic Data Processing stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $132.66, for a total value of $314,669.52. Following the sale, the insider now owns 41,023 shares in the company, valued at $5,442,111.18. The disclosure for this sale can be found here. Insiders have sold 9,191 shares of company stock worth $1,301,603 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on ADP. Guggenheim began coverage on Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 price objective on the stock. BidaskClub upgraded Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Argus lifted their price objective on Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Finally, Credit Suisse Group began coverage on Automatic Data Processing in a research report on Friday, August 10th. They issued an “outperform” rating and a $160.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $141.07.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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