Bank of New Hampshire Decreases Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bank of New Hampshire lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,010 shares of the business services provider’s stock after selling 179 shares during the period. Bank of New Hampshire’s holdings in Automatic Data Processing were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ADP. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing in the third quarter valued at approximately $392,000. Americana Partners LLC boosted its stake in shares of Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares during the period. Everence Capital Management Inc. boosted its stake in Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its stake in Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $1,635,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP David Kwon sold 863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ADP. Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI increased their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $1.13 during trading hours on Friday, hitting $245.21. 456,382 shares of the company’s stock traded hands, compared to its average volume of 1,779,790. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day simple moving average is $246.89 and its two-hundred day simple moving average is $239.31. The company has a market cap of $100.73 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.32 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $1.96 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

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.