Bank of Hawaii Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bank of Hawaii trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the 3rd quarter, Holdings Channel reports. The fund owned 7,711 shares of the business services provider’s stock after selling 134 shares during the period. Bank of Hawaii’s holdings in Automatic Data Processing were worth $2,134,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter valued at about $27,000. Hexagon Capital Partners LLC boosted its holdings in shares of 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 buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $35,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.2 %

Automatic Data Processing stock opened at $305.15 on Monday. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.37. The stock has a 50-day moving average price of $289.55 and a 200 day moving average price of $266.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $124.34 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.54 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.02%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,504 shares of company stock valued at $20,298,056. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ADP shares. Mizuho raised their target price 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. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $289.91.

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.