Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lowered by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% during the 4th quarter, HoldingsChannel reports. The firm owned 968 shares of the business services provider’s stock after selling 56 shares during the period. Central Pacific Bank Trust Division’s holdings in Automatic Data Processing were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing in the 3rd quarter worth about $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth approximately $27,000. Dunhill Financial LLC grew its holdings in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADP shares. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Citigroup boosted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $289.91.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.7 %

Shares of NASDAQ ADP opened at $291.69 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a market cap of $118.85 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 3.50 and a beta of 0.79. The business has a fifty day simple moving average of $298.43 and a 200-day simple moving average of $276.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $1.54 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, December 13th. Automatic Data Processing’s payout ratio is 65.74%.

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.