First PREMIER Bank Grows Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

First PREMIER Bank grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,371 shares of the business services provider’s stock after acquiring an additional 310 shares during the period. First PREMIER Bank’s holdings in Automatic Data Processing were worth $3,700,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADP. BlueSpruce Investments LP bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $365,757,000. Nordea Investment Management AB increased its holdings in Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after acquiring an additional 589,831 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after purchasing an additional 456,027 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade 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 through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last 90 days. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted 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 note on Thursday, August 1st. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Stock Up 0.2 %

ADP opened at $285.97 on Wednesday. The company has a market cap of $117.04 billion, a P/E ratio of 31.85, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $286.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $272.03 and its 200-day moving average price is $254.56.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.96%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Automatic Data Processing 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.