First PREMIER Bank Sells 40 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

First PREMIER Bank trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,331 shares of the business services provider’s stock after selling 40 shares during the quarter. Automatic Data Processing makes up 1.0% of First PREMIER Bank’s holdings, making the stock its 29th biggest holding. First PREMIER Bank’s holdings in Automatic Data Processing were worth $3,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Tower Wealth Partners Inc. grew its stake in Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after purchasing an additional 35 shares during the period. Harbour Investments Inc. increased its stake in shares of Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 36 shares in the last quarter. Aspiriant LLC increased its stake in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after acquiring an additional 36 shares in the last quarter. Petredis Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 37 shares during the period. Finally, Riversedge Advisors LLC boosted its stake in Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last ninety days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $296.36 on Thursday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $120.75 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The stock’s fifty day simple moving average is $297.49 and its two-hundred day simple moving average is $281.46.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADP. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $289.91.

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.