Richard Bernstein Advisors LLC Continues to Hold Position in Automatic Data Processing (NYSE:ADP)

Richard Bernstein Advisors LLC maintained its position in Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,106 shares of the business services provider’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Automatic Data Processing were worth $7,792,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADP. Goelzer Investment Management Inc. increased its position in Automatic Data Processing by 0.3% in the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock valued at $434,000 after buying an additional 12 shares during the last quarter. Middleton & Co Inc MA increased its stake in Automatic Data Processing by 0.4% in the first quarter. Middleton & Co Inc MA now owns 5,306 shares of the business services provider’s stock valued at $543,000 after buying an additional 20 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in Automatic Data Processing by 0.5% in the first quarter. Moloney Securities Asset Management LLC now owns 5,777 shares of the business services provider’s stock valued at $592,000 after buying an additional 28 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in Automatic Data Processing by 1.2% in the first quarter. TCI Wealth Advisors Inc. now owns 2,669 shares of the business services provider’s stock valued at $273,000 after buying an additional 32 shares during the last quarter. Finally, Cypress Capital Management LLC boosted its position in Automatic Data Processing by 0.8% in the first quarter. Cypress Capital Management LLC now owns 4,186 shares of the business services provider’s stock valued at $429,000 after buying an additional 33 shares during the last quarter.

Automatic Data Processing (NYSE:ADP) opened at 108.81 on Friday. The company has a 50-day moving average price of $106.27 and a 200-day moving average price of $102.61. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The company has a market cap of $48.35 billion and a PE ratio of 28.26.

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. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. Automatic Data Processing’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. On average, analysts expect that Automatic Data Processing will post $3.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.10%.

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Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada upped their price target on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $104.96.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The disclosure for this sale can be found here. Over the last three months, insiders 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.

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

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