Cullen Frost Bankers Inc. lowered its position in Automatic Data Processing (NASDAQ:ADP) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,701 shares of the business services provider’s stock after selling 871 shares during the period. Cullen Frost Bankers Inc.’s holdings in Automatic Data Processing were worth $5,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in Automatic Data Processing by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock valued at $5,566,295,000 after buying an additional 425,007 shares in the last quarter. BlackRock Inc. lifted its stake in Automatic Data Processing by 5.4% in the 4th quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock valued at $4,064,239,000 after buying an additional 1,587,214 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Automatic Data Processing by 18,918.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock valued at $179,000 after buying an additional 23,339,116 shares in the last quarter. Lunia Capital LP lifted its stake in Automatic Data Processing by 14,251.9% in the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after buying an additional 18,239,702 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Automatic Data Processing by 213.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock valued at $1,301,682,000 after buying an additional 5,880,242 shares in the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.

Shares of Automatic Data Processing stock opened at $158.35 on Wednesday. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $165.50. The firm has a market cap of $68.98 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.05 and a current ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.08. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.91 billion. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.57 EPS. Analysts expect that Automatic Data Processing will post 5.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 72.64%.

A number of brokerages have weighed in on ADP. Barclays increased their price target on Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup increased their price target on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $156.54.

In related news, VP Maria Black sold 1,614 shares of the stock in a transaction on Friday, February 8th. The stock was sold at an average price of $146.61, for a total value of $236,628.54. Following the transaction, the vice president now directly owns 17,691 shares of the company’s stock, valued at approximately $2,593,677.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stuart Sackman sold 1,478 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $155.13, for a total value of $229,282.14. Following the completion of the transaction, the vice president now directly owns 24,122 shares in the company, valued at $3,742,045.86. The disclosure for this sale can be found here. Insiders sold a total of 70,140 shares of company stock worth $10,923,917 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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Automatic Data Processing Company Profile

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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