Investment House LLC increased its position in Automatic Data Processing (NYSE:ADP) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. 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.
Several other institutional investors also recently added to or reduced their stakes in ADP. Coconut Grove Bank boosted its position in Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock worth $106,000 after buying an additional 460 shares during the period. Grisanti Capital Management LLC boosted its position in Automatic Data Processing by 4.5% in the first 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 period. Edmond DE Rothschild Holding S.A. bought a new position in Automatic Data Processing during the first quarter worth $113,000. Harbour Capital Advisors LLC bought a new position in Automatic Data Processing during the first quarter worth $176,000. Finally, Guardian Life Insurance Co. of America boosted its position in Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period.
Shares of Automatic Data Processing (NYSE ADP) traded up 0.21% during midday trading on Friday, hitting $109.13. The stock had a trading volume of 1,593,648 shares. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The firm has a market cap of $48.49 billion and a price-to-earnings ratio of 28.35. The firm has a 50-day moving average price of $106.07 and a 200-day moving average price of $102.56. Automatic Data Processing also was the recipient of unusually large options trading activity on Tuesday. Investors bought 15,090 put options on the company. This represents an increase of approximately 264% compared to the typical volume of 4,143 put options.
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, equities analysts anticipate that Automatic Data Processing will post $3.82 EPS 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 2.09%. The ex-dividend date of this dividend is Thursday, September 7th.
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Several equities analysts recently commented on ADP shares. Argus dropped their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research note on Wednesday, May 31st. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, William Blair lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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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