Automatic Data Processing (ADP) Shares Sold by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale trimmed its position in shares of Automatic Data Processing (NYSE:ADP) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,448 shares of the business services provider’s stock after selling 7,372 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Automatic Data Processing were worth $6,941,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Grisanti Capital Management LLC increased its holdings in shares of Automatic Data Processing by 4.5% during the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after buying an additional 45 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth $113,000. Grove Bank & Trust increased its holdings in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares during the last quarter. Armbruster Capital Management Inc. increased its holdings in shares of Automatic Data Processing by 2.5% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after buying an additional 32 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth $176,000.
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A number of analysts have recently commented on the company. Royal Bank Of Canada restated a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a report on Friday, September 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Robert W. Baird reiterated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $107.29.
In related news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders sold a total of 40,657 shares of company stock worth $4,457,476 in the last quarter.
Shares of Automatic Data Processing (NYSE ADP) opened at 111.40 on Thursday. The firm has a market capitalization of $49.50 billion and a P/E ratio of 28.94. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock’s 50 day moving average price is $107.12 and its 200 day moving average price is $104.22.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post $3.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.05%.
Automatic Data Processing 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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