Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,374 shares of the business services provider’s stock after buying an additional 175 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Automatic Data Processing were worth $21,055,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $392,000. Americana Partners LLC lifted its stake in Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after purchasing an additional 660 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC increased its stake in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $1,635,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $2.38 during trading hours on Tuesday, hitting $245.12. 1,202,179 shares of the company were exchanged, compared to its average volume of 1,781,435. The business has a 50-day moving average of $245.29 and a 200-day moving average of $238.95. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $100.33 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business earned $2.52 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. TD Cowen dropped their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays boosted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $255.42.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,966 shares of company stock worth $749,524. Company insiders own 0.26% of the company’s stock.

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.