First Hawaiian Bank lifted its position in Automatic Data Processing (NASDAQ:ADP) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,484 shares of the business services provider’s stock after purchasing an additional 211 shares during the period. First Hawaiian Bank’s holdings in Automatic Data Processing were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Automatic Data Processing by 213.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock valued at $1,301,682,000 after purchasing an additional 5,880,242 shares during the last quarter. Fundsmith Equity Fund L.P. acquired a new position in Automatic Data Processing during the 2nd quarter valued at $776,199,000. Millennium Management LLC raised its stake in Automatic Data Processing by 328.6% during the 2nd quarter. Millennium Management LLC now owns 2,221,504 shares of the business services provider’s stock valued at $297,993,000 after purchasing an additional 1,703,162 shares during the last quarter. Senator Investment Group LP acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $174,382,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $156,978,000. Institutional investors and hedge funds own 77.89% of the company’s stock.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 24,791 shares of the stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $131.47, for a total transaction of $3,259,272.77. Following the sale, the chief executive officer now owns 130,281 shares of the company’s stock, valued at approximately $17,128,043.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 4,389 shares of the stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total transaction of $566,181.00. Following the sale, the vice president now directly owns 8,144 shares in the company, valued at approximately $1,050,576. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,716 shares of company stock worth $28,606,425. 0.33% of the stock is owned by insiders.
ADP opened at $131.65 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing has a twelve month low of $107.61 and a twelve month high of $153.51. The stock has a market capitalization of $57.53 billion, a PE ratio of 30.26, a PEG ratio of 2.00 and a beta of 0.95.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts expect that Automatic Data Processing will post 5.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th were issued a $0.79 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date was Thursday, December 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.40%. Automatic Data Processing’s dividend payout ratio is presently 72.64%.
A number of equities analysts have recently issued reports on ADP shares. Jefferies Financial Group started coverage on shares of Automatic Data Processing in a research note on Monday, October 1st. They issued a “hold” rating and a $160.00 price objective for the company. Barclays started coverage on shares of Automatic Data Processing in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price objective for the company. Zacks Investment Research restated a “hold” rating on shares of Automatic Data Processing in a research note on Monday, November 12th. Moffett Nathanson started coverage on shares of Automatic Data Processing in a research note on Thursday, October 4th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Citigroup increased their price objective on shares of Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $151.87.
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Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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