Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Piscataqua Savings Bank

Piscataqua Savings Bank trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,524 shares of the business services provider’s stock after selling 265 shares during the period. Piscataqua Savings Bank’s holdings in Automatic Data Processing were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADP. Ten Capital Wealth Advisors LLC grew its position in Automatic Data Processing by 110.7% in the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at approximately $28,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $33,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Automatic Data Processing in the first quarter worth $31,000. Finally, Arlington Partners LLC acquired a new stake in Automatic Data Processing in the first quarter valued at $36,000. 79.37% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.8 %

NASDAQ ADP opened at $247.28 on Tuesday. The firm’s 50 day moving average price is $246.38 and its two-hundred day moving average price is $226.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $274.92. The stock has a market cap of $101.88 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.30 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a return on equity of 107.15% and a net margin of 18.94%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the business earned $1.50 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 60.98%.

Insider Activity

In other news, insider Carlos A. Rodriguez sold 52,254 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $247.93, for a total transaction of $12,955,334.22. Following the completion of the sale, the insider now directly owns 44,859 shares of the company’s stock, valued at approximately $11,121,891.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Michael A. Bonarti sold 7,049 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $254.75, for a total transaction of $1,795,732.75. Following the transaction, the vice president now owns 67,044 shares of the company’s stock, valued at approximately $17,079,459. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carlos A. Rodriguez sold 52,254 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $247.93, for a total value of $12,955,334.22. Following the completion of the transaction, the insider now directly owns 44,859 shares in the company, valued at $11,121,891.87. The disclosure for this sale can be found here. Insiders have sold a total of 170,089 shares of company stock worth $42,719,064 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Robert W. Baird increased their price objective on shares of Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Mizuho raised their target price on Automatic Data Processing from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Morgan Stanley boosted their target price on shares of Automatic Data Processing from $240.00 to $260.00 in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $249.57.

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.