Banco Santander S.A. Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Banco Santander S.A. increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 48.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,538 shares of the business services provider's stock after purchasing an additional 1,158 shares during the period. Banco Santander S.A.'s holdings in Automatic Data Processing were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Automatic Data Processing by 1,029.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 420,257 shares of the business services provider's stock valued at $132,429,000 after purchasing an additional 383,057 shares in the last quarter. Oak Hill Wealth Advisors LLC raised its position in Automatic Data Processing by 200.3% in the 4th quarter. Oak Hill Wealth Advisors LLC now owns 7,060 shares of the business services provider's stock worth $2,067,000 after buying an additional 14,099 shares during the last quarter. AMG National Trust Bank lifted its stake in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after acquiring an additional 33 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Automatic Data Processing by 1.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 16,141 shares of the business services provider's stock valued at $4,725,000 after acquiring an additional 305 shares during the last quarter. Finally, Haven Private LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $667,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

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Automatic Data Processing Price Performance

Shares of ADP stock traded down $3.63 on Thursday, hitting $290.55. 2,061,672 shares of the stock traded hands, compared to its average volume of 1,506,012. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The firm has a 50 day simple moving average of $302.30 and a two-hundred day simple moving average of $294.33. The firm has a market cap of $118.39 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is currently 64.23%.

Insider Activity

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock worth $1,762,074 over the last quarter. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ADP shares. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $296.18.

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.