First Interstate Bank Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

First Interstate Bank boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.5% in the 3rd quarter, Holdings Channel reports. The fund owned 3,562 shares of the business services provider’s stock after acquiring an additional 478 shares during the quarter. First Interstate Bank’s holdings in Automatic Data Processing were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at $27,000. Keener Financial Planning LLC grew its holdings in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ADP shares. Barclays boosted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. UBS Group increased their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $285.09.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $1.06 on Friday, reaching $288.18. The stock had a trading volume of 2,037,049 shares, compared to its average volume of 1,637,382. Automatic Data Processing, Inc. has a 1-year low of $211.52 and a 1-year high of $294.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $117.53 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.79. The firm has a fifty day moving average of $281.57 and a two-hundred day moving average of $259.90.

Automatic Data Processing (NASDAQ:ADP) last announced 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. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.98 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Insider Buying and Selling

In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.21% of the stock is owned by insiders.

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.