Piscataqua Savings Bank Has $335,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Piscataqua Savings Bank lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.8% during the second quarter, HoldingsChannel reports. The firm owned 1,524 shares of the business services provider’s stock after selling 265 shares during the quarter. Piscataqua Savings Bank’s holdings in Automatic Data Processing were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ten Capital Wealth Advisors LLC boosted its stake in Automatic Data Processing by 110.7% in the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $28,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at approximately $33,000. Strategic Investment Solutions Inc. IL acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $31,000. Finally, Arlington Partners LLC acquired a new stake in Automatic Data Processing in the first quarter valued at approximately $36,000. Institutional investors own 79.37% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP Michael A. Bonarti sold 7,049 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.75, for a total value of $1,795,732.75. Following the completion of the sale, the vice president now directly owns 67,044 shares of the company’s stock, valued at approximately $17,079,459. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Don Mcguire sold 3,880 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $253.90, for a total transaction of $985,132.00. Following the completion of the sale, the vice president now owns 20,665 shares in the company, valued at $5,246,843.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Bonarti sold 7,049 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.75, for a total transaction of $1,795,732.75. Following the completion of the transaction, the vice president now owns 67,044 shares in the company, valued at $17,079,459. The disclosure for this sale can be found here. Insiders sold a total of 170,089 shares of company stock worth $42,719,064 over the last quarter. Insiders own 0.33% of the company’s stock.

Automatic Data Processing Trading Up 0.8 %

Shares of Automatic Data Processing stock opened at $247.28 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $274.92. The stock has a 50 day moving average price of $246.38 and a two-hundred day moving average price of $226.89. The stock has a market capitalization of $101.88 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.30 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio is 60.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADP shares. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a report on Tuesday, August 22nd. Morgan Stanley upped their target price on Automatic Data Processing from $240.00 to $260.00 in a report on Thursday, July 27th. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. UBS Group initiated coverage on shares of Automatic Data Processing in a research report on Friday, June 2nd. They set a “neutral” rating and a $230.00 price objective for the company. Finally, Mizuho upped their price target on shares of Automatic Data Processing from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $249.57.

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.