Automatic Data Processing, Inc. (NASDAQ:ADP) is Marble Harbor Investment Counsel LLC’s 5th Largest Position

Marble Harbor Investment Counsel LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 132,953 shares of the business services provider’s stock after selling 725 shares during the period. Automatic Data Processing makes up approximately 3.7% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 5th largest holding. Marble Harbor Investment Counsel LLC’s holdings in Automatic Data Processing were worth $31,735,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADP. Schmidt P J Investment Management Inc. grew its stake in Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares in the last quarter. Confluence Wealth Services Inc. lifted its holdings in shares of Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after buying an additional 41 shares during the period. Prestige Wealth Management Group LLC grew its position in shares of Automatic Data Processing by 0.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after buying an additional 43 shares in the last quarter. Patron Partners LLC increased its stake in shares of Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock valued at $683,000 after buying an additional 44 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Automatic Data Processing by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 5,432 shares of the business services provider’s stock valued at $1,297,000 after acquiring an additional 45 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Bank of America increased their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Trading Down 0.3 %

Shares of NASDAQ:ADP opened at $277.51 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $113.17 billion, a P/E ratio of 30.97, a P/E/G ratio of 3.02 and a beta of 0.79. The business’s 50-day moving average is $260.52 and its 200 day moving average is $250.53. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $279.58.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

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.