Bank of New Hampshire Sells 179 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Bank of New Hampshire lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. B & T Capital Management DBA Alpha Capital Management acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $234,000. Meridian Wealth Management LLC grew its stake in Automatic Data Processing by 65.7% in the third quarter. Meridian Wealth Management LLC now owns 6,340 shares of the business services provider’s stock valued at $1,525,000 after acquiring an additional 2,513 shares during the period. KFG Wealth Management LLC grew its stake in Automatic Data Processing by 11.6% in the third quarter. KFG Wealth Management LLC now owns 2,835 shares of the business services provider’s stock valued at $682,000 after acquiring an additional 295 shares during the period. Exchange Traded Concepts LLC grew its stake in Automatic Data Processing by 10,832.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the business services provider’s stock valued at $736,000 after acquiring an additional 3,033 shares during the period. Finally, Boston Trust Walden Corp grew its stake in Automatic Data Processing by 1.0% in the third quarter. Boston Trust Walden Corp now owns 552,936 shares of the business services provider’s stock valued at $133,025,000 after acquiring an additional 5,310 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $1.13 during trading on Friday, reaching $245.21. The company had a trading volume of 456,382 shares, 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 firm’s 50-day simple moving average is $246.89 and its 200 day simple moving average is $239.31. The firm has a market capitalization 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. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm earned $1.96 EPS. Automatic Data Processing’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following 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 SEC, which is available through this hyperlink. In other news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is owned by company insiders.

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.