FineMark National Bank & Trust Has $289,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

FineMark National Bank & Trust grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 986 shares of the business services provider’s stock after purchasing an additional 39 shares during the quarter. FineMark National Bank & Trust’s holdings in Automatic Data Processing were worth $289,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Littlejohn Financial Services Inc. acquired a new position in Automatic Data Processing during the 4th quarter valued at $708,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares during the period. Bath Savings Trust Co grew its position in Automatic Data Processing by 2.0% during the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock worth $29,068,000 after buying an additional 1,951 shares in the last quarter. Principal Financial Group Inc. increased its stake in Automatic Data Processing by 4.5% during the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock valued at $146,581,000 after acquiring an additional 22,766 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Automatic Data Processing by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after acquiring an additional 51,828 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 1.0 %

ADP stock opened at $302.41 on Thursday. The business has a fifty day moving average price of $303.59 and a 200 day moving average price of $295.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. The stock has a market capitalization of $123.22 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Activity

In related news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 over the last three months. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $302.30.

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.