First PREMIER Bank Sells 40 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

First PREMIER Bank cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,331 shares of the business services provider’s stock after selling 40 shares during the quarter. Automatic Data Processing makes up 1.0% of First PREMIER Bank’s portfolio, making the stock its 29th largest position. First PREMIER Bank’s holdings in Automatic Data Processing were worth $3,903,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter valued at $26,000. Dunhill Financial LLC raised its holdings in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC lifted its stake 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 purchasing an additional 51 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Automatic Data Processing during the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth approximately $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 over the last three months. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $296.36 on Thursday. The company has a market cap of $120.75 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.45 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $297.49 and a 200-day moving average price of $281.46.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADP. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Barclays raised their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Company 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.