Bank of Hawaii Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bank of Hawaii reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,530 shares of the business services provider’s stock after selling 181 shares during the quarter. Bank of Hawaii’s holdings in Automatic Data Processing were worth $2,204,000 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. Scotia Capital Inc. grew its holdings in Automatic Data Processing by 4.6% in the fourth quarter. Scotia Capital Inc. now owns 4,016 shares of the business services provider’s stock valued at $1,176,000 after purchasing an additional 178 shares during the period. F M Investments LLC boosted its holdings in shares of Automatic Data Processing by 8.2% in the 4th quarter. F M Investments LLC now owns 18,907 shares of the business services provider’s stock valued at $5,535,000 after purchasing an additional 1,439 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $1,958,000. Winslow Capital Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth $396,714,000. Finally, APG Asset Management N.V. boosted its holdings in Automatic Data Processing by 307.6% in the fourth quarter. APG Asset Management N.V. now owns 298,356 shares of the business services provider’s stock valued at $84,344,000 after acquiring an additional 225,155 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $302.30.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,364 shares of company stock valued at $1,613,094. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 6.5 %

NASDAQ:ADP opened at $294.69 on Thursday. The firm has a market capitalization of $120.07 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $302.79 and a 200-day moving average of $297.29.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Automatic Data Processing Company 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.