Zions Bancorporation NA sells 466 shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

VaselineSeptember 15, 2024

0 5 minutes read

Zions Bancorporation NA decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 19.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,939 shares of the business services provider’s stock after selling 466 shares during the period. Zions Bancorporation NA’s holdings in Automatic Data Processing were worth $463,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ADP. Federated Hermes Inc. raised its stake in Automatic Data Processing by 0.4% in the second quarter. Federated Hermes Inc. now owns 92,324 shares of the business services provider’s stock worth $22,037,000 after acquiring an additional 365 shares during the last quarter. Pinkerton Retirement Specialists LLC boosted its holdings in shares of Automatic Data Processing by 8.8% during the second quarter. Pinkerton Retirement Specialists LLC now owns 16,172 shares of the business services provider’s stock valued at $3,860,000 after purchasing an additional 1,306 shares during the period. GHP Investment Advisors Inc. boosted its holdings in shares of Automatic Data Processing by 1.1% during the second quarter. GHP Investment Advisors Inc. now owns 29,994 shares of the business services provider’s stock valued at $7,159,000 after buying an additional 332 shares during the period. Meeder Advisory Services Inc. boosted its position in shares of Automated Data Processing by 24.1% in the second quarter. Meeder Advisory Services Inc. now owns 12,110 shares of the business services provider’s stock worth $2,890,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of Automatic Data Processing by 16.8% in the 2nd quarter. Vest Financial LLC now owns 179,590 shares of the business services provider’s stock valued at $42,866,000 , after buying an additional 25,801 shares during the period. Institutional investors own 80.03% of the company’s shares.

The Wall Street analyst weighs in

A number of research analysts recently weighed in on ADP shares. Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $265.36, according to MarketBeat.

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Insiders place their bets

In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s shares.

The price performance of automatic data processing

Automated Data Processing stock opened at $277.51 on Friday. Automatic Data Processing, Inc. it has a 52-week low of $205.53 and a 52-week high of $279.58. The company’s 50-day moving average price is $260.52, and its two-hundred-day moving average price is $250.54. The stock has a market cap of $113.17 billion, a P/E ratio of 30.97, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01, and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automated Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. In the same quarter last year, the company earned $1.89 per share. The company’s revenue rose 7.2% year-over-year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automated data processing is paying dividends

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13. This represents a dividend of $5.60 on an annualized basis and a yield of 2.02%. Auto Data’s dividend payout ratio (DPR) is currently 62.50%.

Automatic data processing profile

(Free Report)

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.