Thomasville National Bank Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Thomasville National Bank decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,253 shares of the business services provider’s stock after selling 86 shares during the quarter. Thomasville National Bank’s holdings in Automatic Data Processing were worth $313,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ADP. Fortitude Family Office LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $39,000. Evolution Advisers Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $41,000. Raleigh Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen lowered their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Barclays raised their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI raised their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Price Performance

ADP stock opened at $246.06 on Friday. The firm has a 50 day moving average of $245.80 and a 200-day moving average of $243.29. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month 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 company has a market cap of $100.71 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.69 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.22 billion. During the same period last year, the firm earned $2.52 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Automatic Data Processing Profile

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.