Simmons Bank Has $1.65 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Simmons Bank lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,101 shares of the business services provider’s stock after selling 49 shares during the period. Simmons Bank’s holdings in Automatic Data Processing were worth $1,654,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Automatic Data Processing by 22,539.4% during the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after buying an additional 930,199 shares during the last quarter. Invesco Ltd. boosted its stake in Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after purchasing an additional 905,043 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Automatic Data Processing by 65.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock worth $337,416,000 after purchasing an additional 555,184 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Automatic Data Processing by 18.3% in the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after purchasing an additional 553,946 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $107,401,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold 2,966 shares of company stock worth $749,524 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP traded up $2.38 during trading hours on Tuesday, hitting $245.12. The company’s stock had a trading volume of 1,202,179 shares, compared to its average volume of 1,781,435. The company has a market cap of $100.33 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.30 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $245.29 and a two-hundred day simple moving average of $238.95.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm earned $2.52 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. 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%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. 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, February 1st. Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Finally, 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 report on Wednesday, January 17th. 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. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $255.42.

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.