First Interstate Bank Trims Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

First Interstate Bank decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 3,194 shares of the business services provider’s stock after selling 130 shares during the quarter. First Interstate Bank’s holdings in Automatic Data Processing were worth $744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Automatic Data Processing in the third quarter valued at approximately $25,000. Coppell Advisory Solutions LLC purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Automatic Data Processing during the first quarter worth $31,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $33,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in shares of Automatic Data Processing during the third quarter worth $34,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ADP shares. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI upped their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $254.58.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,162 shares of company stock worth $3,741,859. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $0.13 during trading hours on Tuesday, hitting $244.21. The company had a trading volume of 1,457,656 shares, compared to its average volume of 1,833,236. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The company has a market cap of $100.32 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The business has a 50 day moving average of $247.82 and a 200-day moving average of $239.13.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

About Automatic Data Processing

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.