Automatic Data Processing (ADP) Shares Bought by Investment House LLC
Investment House LLC increased its stake in Automatic Data Processing (NYSE:ADP) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 63,641 shares of the business services provider’s stock after buying an additional 640 shares during the period. Investment House LLC’s holdings in Automatic Data Processing were worth $6,521,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock worth $2,353,000 after buying an additional 6,300 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Automatic Data Processing by 39.7% in the first quarter. Koshinski Asset Management Inc. now owns 3,123 shares of the business services provider’s stock worth $320,000 after buying an additional 887 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Automatic Data Processing by 2.5% in the first quarter. Quadrant Capital Group LLC now owns 3,126 shares of the business services provider’s stock worth $312,000 after buying an additional 75 shares in the last quarter. National Pension Service raised its stake in Automatic Data Processing by 2.8% in the first quarter. National Pension Service now owns 342,140 shares of the business services provider’s stock worth $34,956,000 after buying an additional 9,337 shares in the last quarter. Finally, First American Bank raised its stake in Automatic Data Processing by 19.6% in the first quarter. First American Bank now owns 27,631 shares of the business services provider’s stock worth $2,829,000 after buying an additional 4,536 shares in the last quarter.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.21% during trading on Friday, hitting $109.13. 1,593,648 shares of the stock traded hands. The firm has a market capitalization of $48.49 billion and a price-to-earnings ratio of 28.35. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The firm has a 50-day moving average of $106.07 and a 200-day moving average of $102.56. Automatic Data Processing also was the target of unusually large options trading activity on Tuesday. Traders bought 15,090 put options on the company. This represents an increase of 264% compared to the average daily volume of 4,143 put options.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, equities analysts forecast that Automatic Data Processing will post $3.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, September 7th.
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ADP has been the subject of a number of analyst reports. Barclays PLC lowered their target price on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a report on Tuesday, April 25th. Argus lowered their target price on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Evercore ISI reaffirmed an “underperform” rating and set a $85.00 target price on shares of Automatic Data Processing in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $115.00 to $108.00 in a report on Tuesday, June 20th. Finally, Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $104.96.
In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the completion of the sale, the insider now directly owns 46,256 shares in the company, valued at $4,717,186.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Insiders sold 90,620 shares of company stock valued at $9,435,757 over the last 90 days.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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