Automatic Data Processing (ADP) Shares Sold by Kidder Stephen W
Kidder Stephen W cut its stake in Automatic Data Processing (NYSE:ADP) by 0.9% during the first quarter, Holdings Channel reports. The firm owned 97,212 shares of the business services provider’s stock after selling 900 shares during the period. Automatic Data Processing comprises about 3.8% of Kidder Stephen W’s holdings, making the stock its 4th largest position. Kidder Stephen W’s holdings in Automatic Data Processing were worth $9,953,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Macquarie Group Ltd. boosted its position 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 valued at $2,353,000 after buying an additional 6,300 shares during the period. National Pension Service boosted its position 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 valued at $34,956,000 after buying an additional 9,337 shares during the period. First American Bank boosted its position 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 valued at $2,829,000 after buying an additional 4,536 shares during the period. First National Bank of Omaha boosted its position in Automatic Data Processing by 22.3% in the first quarter. First National Bank of Omaha now owns 8,374 shares of the business services provider’s stock valued at $857,000 after buying an additional 1,529 shares during the period. Finally, Marathon Asset Management LLP boosted its position in Automatic Data Processing by 9.0% in the first quarter. Marathon Asset Management LLP now owns 370,072 shares of the business services provider’s stock valued at $38,086,000 after buying an additional 30,517 shares during the period.
Shares of Automatic Data Processing (NYSE:ADP) traded down 0.08% during mid-day trading on Friday, reaching $108.81. The company had a trading volume of 4,639,179 shares. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company has a market capitalization of $48.35 billion and a PE ratio of 28.26. The company’s 50-day moving average price is $106.27 and its 200-day moving average price is $102.61.
Automatic Data Processing (NYSE:ADP) last announced 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 business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 EPS. On average, analysts forecast that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, September 7th.
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ADP has been the topic of several recent analyst reports. Barclays PLC cut their price target on Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 25th. Argus cut their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. Evercore ISI reiterated an “underperform” rating and issued a $85.00 price target on shares of Automatic Data Processing in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their price target for the stock from $115.00 to $108.00 in a research note on Tuesday, June 20th. Finally, Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $104.96.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now owns 146,494 shares in the company, valued at $16,114,340. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the transaction, the chief executive officer now owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,620 shares of company stock valued at $9,435,757.
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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