Zions Bancorporation N.A. Has $463,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Zions Bancorporation N.A. reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,939 shares of the business services provider’s stock after selling 466 shares during the period. Zions Bancorporation N.A.’s holdings in Automatic Data Processing were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after buying an additional 173,298 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after acquiring an additional 249,566 shares during the period. Capital Research Global Investors increased its stake in shares of Automatic Data Processing by 2.3% during the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after purchasing an additional 81,869 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Automatic Data Processing by 27.7% in the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares during the period. Finally, Ninety One UK Ltd lifted its stake in Automatic Data Processing by 0.4% in the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after purchasing an additional 9,464 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $277.51 on Friday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month 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 firm has a market cap of $113.17 billion, a PE ratio of 30.97, a PEG 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) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Jefferies Financial Group increased their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $265.36.

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.