Bank of Hawaii decreased its position in Automatic Data Processing (NYSE:ADP) by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,130 shares of the business services provider’s stock after selling 1,640 shares during the period. Bank of Hawaii’s holdings in Automatic Data Processing were worth $1,959,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock worth $2,353,000 after buying an additional 6,300 shares during the last quarter. Liberty Capital Management Inc. increased its stake in shares of Automatic Data Processing by 10.0% in the first quarter. Liberty Capital Management Inc. now owns 7,143 shares of the business services provider’s stock valued at $731,000 after buying an additional 648 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $363,000. McQueen Ball & Associates Inc. increased its stake in shares of Automatic Data Processing by 2.6% in the first quarter. McQueen Ball & Associates Inc. now owns 23,945 shares of the business services provider’s stock valued at $2,452,000 after buying an additional 600 shares during the last quarter. Finally, Woodstock Corp increased its stake in shares of Automatic Data Processing by 0.7% in the first quarter. Woodstock Corp now owns 83,447 shares of the business services provider’s stock valued at $8,544,000 after buying an additional 620 shares during the last quarter.
Shares of Automatic Data Processing (NYSE:ADP) opened at 104.41 on Friday. The company has a market cap of $46.40 billion and a price-to-earnings ratio of 27.12. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The stock has a 50 day moving average of $107.19 and a 200 day moving average of $102.82.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts forecast that Automatic Data Processing will post $3.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.18%.
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ADP has been the subject of several research reports. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC restated a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. William Blair cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Evercore ISI cut shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a report on Friday, June 2nd. Finally, BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $105.35.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael A. Bonarti sold 2,932 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the transaction, the insider now directly owns 46,256 shares in the company, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,620 shares of company stock worth $9,435,757.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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