Piscataqua Savings Bank Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Piscataqua Savings Bank trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADP. Arlington Partners LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $36,000. Regal Investment Advisors LLC grew its position in Automatic Data Processing by 1.4% in the fourth quarter. Regal Investment Advisors LLC now owns 13,429 shares of the business services provider’s stock worth $3,208,000 after acquiring an additional 191 shares in the last quarter. Abacus Planning Group Inc. raised its position in Automatic Data Processing by 17.1% during the second quarter. Abacus Planning Group Inc. now owns 1,368 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 200 shares during the period. First Trust Advisors LP raised its position in Automatic Data Processing by 4.0% during the first quarter. First Trust Advisors LP now owns 1,204,418 shares of the business services provider’s stock valued at $268,140,000 after purchasing an additional 46,082 shares during the period. Finally, Bogart Wealth LLC lifted its stake in shares of Automatic Data Processing by 34.1% in the 1st quarter. Bogart Wealth LLC now owns 338 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 86 shares during the last quarter. 79.37% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Michael A. Bonarti sold 7,049 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 67,044 shares in the company, valued at approximately $17,079,459. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, CEO Maria Black sold 17,326 shares of Automatic Data Processing stock in a transaction on Friday, September 1st. The shares were sold at an average price of $255.03, for a total value of $4,418,649.78. Following the transaction, the chief executive officer now directly owns 70,782 shares of the company’s stock, valued at $18,051,533.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 7,049 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.75, for a total value of $1,795,732.75. Following the transaction, the vice president now directly owns 67,044 shares in the company, valued at $17,079,459. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,089 shares of company stock worth $42,719,064. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ADP shares. Barclays boosted their target price on Automatic Data Processing from $275.00 to $285.00 in a research report on Friday, July 28th. Royal Bank of Canada began coverage on shares of Automatic Data Processing in a research report on Tuesday, September 5th. They set a “sector perform” rating and a $267.00 price objective on the stock. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Robert W. Baird upped their price target on shares of Automatic Data Processing from $235.00 to $270.00 in a report on Thursday, July 27th. Finally, Morgan Stanley raised their price objective on shares of Automatic Data Processing from $240.00 to $260.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $249.57.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $247.28 on Tuesday. The firm’s 50 day simple moving average is $246.38 and its 200-day simple moving average 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 one year low of $201.46 and a one year high of $274.92. The firm has a market cap of $101.88 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.30 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share for the quarter, beating 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 previous year, the company posted $1.50 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

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 given a dividend of $1.25 per share. The ex-dividend date is Thursday, September 7th. This represents a $5.00 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 60.98%.

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.