Marble Harbor Investment Counsel LLC Has $24.70 Million Stock Position in Automatic Data Processing (NASDAQ:ADP)

Marble Harbor Investment Counsel LLC lessened its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,010 shares of the business services provider’s stock after selling 1,431 shares during the quarter. Automatic Data Processing accounts for about 4.4% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 2nd largest position. Marble Harbor Investment Counsel LLC’s holdings in Automatic Data Processing were worth $24,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Moors & Cabot Inc. increased its holdings in Automatic Data Processing by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 7,192 shares of the business services provider’s stock valued at $1,161,000 after purchasing an additional 63 shares in the last quarter. CX Institutional increased its stake in shares of Automatic Data Processing by 3.0% in the 2nd quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after buying an additional 73 shares during the period. Berman Capital Advisors LLC increased its stake in shares of Automatic Data Processing by 2.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 2,853 shares of the business services provider’s stock valued at $471,000 after buying an additional 73 shares during the period. We Are One Seven LLC increased its stake in shares of Automatic Data Processing by 2.9% in the 3rd quarter. We Are One Seven LLC now owns 2,592 shares of the business services provider’s stock valued at $418,000 after buying an additional 74 shares during the period. Finally, Sheets Smith Wealth Management increased its stake in shares of Automatic Data Processing by 1.1% in the 3rd quarter. Sheets Smith Wealth Management now owns 7,245 shares of the business services provider’s stock valued at $1,169,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 80.61% of the company’s stock.

Shares of Automatic Data Processing stock traded up $2.94 during trading on Tuesday, reaching $166.36. 1,920,757 shares of the company were exchanged, compared to its average volume of 1,962,786. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $174.50. The business has a 50-day moving average price of $161.28 and a 200-day moving average price of $163.77. The firm has a market capitalization of $70.41 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.03 and a beta of 0.88.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing will post 6.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.91 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.79. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.19%. Automatic Data Processing’s payout ratio is 57.98%.

Several research firms have recently commented on ADP. Credit Suisse Group reissued a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a research note on Monday, November 4th. Cowen began coverage on Automatic Data Processing in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 target price for the company. Jefferies Financial Group lifted their target price on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley lifted their target price on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $179.56.

In related news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the sale, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Automatic Data Processing Profile

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

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

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