First International Bank & Trust Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

First International Bank & Trust reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,453 shares of the business services provider’s stock after selling 118 shares during the quarter. First International Bank & Trust’s holdings in Automatic Data Processing were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. MGO One Seven LLC boosted its holdings in Automatic Data Processing by 9.8% in the 2nd quarter. MGO One Seven LLC now owns 6,572 shares of the business services provider’s stock worth $1,569,000 after acquiring an additional 584 shares during the period. AGF Management Ltd. raised its stake in shares of Automatic Data Processing by 21.9% in the 2nd quarter. AGF Management Ltd. now owns 16,107 shares of the business services provider’s stock valued at $3,845,000 after purchasing an additional 2,892 shares in the last quarter. LPL Financial LLC raised its stake in Automatic Data Processing by 5.4% during the second quarter. LPL Financial LLC now owns 554,982 shares of the business services provider’s stock valued at $132,469,000 after buying an additional 28,297 shares in the last quarter. Qsemble Capital Management LP lifted its stake in Automatic Data Processing by 240.2% during the second quarter. Qsemble Capital Management LP now owns 15,479 shares of the business services provider’s stock worth $3,695,000 after purchasing an additional 10,929 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Automatic Data Processing by 0.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 160,808 shares of the business services provider’s stock worth $38,383,000 after buying an additional 936 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the sale, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,062 shares of company stock valued at $12,299,550 in the last three months. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of a number of analyst reports. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Up 1.2 %

NASDAQ:ADP opened at $291.89 on Friday. 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 company has a market capitalization of $118.93 billion, a P/E ratio of 31.15, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The stock’s 50 day moving average price is $298.49 and its 200 day moving average price is $277.85.

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

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a $1.54 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.