First Hawaiian Bank Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

First Hawaiian Bank cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,907 shares of the business services provider’s stock after selling 669 shares during the quarter. First Hawaiian Bank’s holdings in Automatic Data Processing were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bainco International Investors bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $34,000. Cypress Capital Group grew its position in shares of Automatic Data Processing by 7.8% during the 4th quarter. Cypress Capital Group now owns 13,090 shares of the business services provider’s stock valued at $2,306,000 after acquiring an additional 948 shares during the period. First PREMIER Bank grew its position in shares of Automatic Data Processing by 2.1% during the 4th quarter. First PREMIER Bank now owns 14,137 shares of the business services provider’s stock valued at $2,491,000 after acquiring an additional 290 shares during the period. TRUE Private Wealth Advisors grew its position in shares of Automatic Data Processing by 12.0% during the 4th quarter. TRUE Private Wealth Advisors now owns 763 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 82 shares during the period. Finally, Parkside Advisors LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $211,000. Institutional investors and hedge funds own 79.65% of the company’s stock.

ADP opened at $164.66 on Thursday. The firm has a 50-day simple moving average of $174.09 and a two-hundred day simple moving average of $153.43. Automatic Data Processing, Inc. has a 52 week low of $103.11 and a 52 week high of $182.32. The company has a market capitalization of $70.61 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.53 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $0.97 by $0.44. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 5.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 1st. Stockholders of record on Friday, March 12th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio is 62.84%.

ADP has been the subject of a number of recent research reports. Cowen downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $150.00 to $143.00 in a research report on Monday, September 21st. Morgan Stanley upped their target price on shares of Automatic Data Processing from $147.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Credit Suisse Group upped their target price on shares of Automatic Data Processing from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, November 9th. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $135.00 to $168.00 and gave the stock a “hold” rating in a report on Wednesday, October 28th. Finally, BMO Capital Markets upped their target price on shares of Automatic Data Processing from $149.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, October 29th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $158.00.

In other news, VP Brock Albinson sold 2,151 shares of the company’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $175.97, for a total transaction of $378,511.47. Following the sale, the vice president now directly owns 38,685 shares in the company, valued at approximately $6,807,399.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 36,937 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $160.76, for a total transaction of $5,937,992.12. Following the sale, the chief executive officer now owns 128,578 shares in the company, valued at $20,670,199.28. The disclosure for this sale can be found here. Insiders have sold a total of 77,731 shares of company stock worth $12,957,058 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

Further Reading: 52-Week High/Low Prices For Stock Selection

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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