Peoples Financial Services CORP. cut its stake in Automatic Data Processing (NYSE:ADP) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,350 shares of the business services provider’s stock after selling 50 shares during the period. Peoples Financial Services CORP.’s holdings in Automatic Data Processing were worth $753,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of ADP. Coconut Grove Bank raised its position in shares of 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 raised its position in shares of 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. acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $113,000. Harbour Capital Advisors LLC acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $176,000. Finally, Guardian Life Insurance Co. of America raised its position in shares of 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.
Automatic Data Processing (NYSE:ADP) traded down 0.08% during trading on Friday, reaching $108.81. The company’s stock had a trading volume of 4,639,179 shares. The company’s 50 day moving average price is $106.27 and its 200-day moving average price is $102.61. The stock has a market cap of $48.35 billion and a P/E ratio of 28.26. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. Automatic Data Processing also saw unusually large options trading on Tuesday. Stock investors purchased 15,090 put options on the company. This represents an increase of approximately 264% compared to the average volume of 4,143 put options.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.10%.
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A number of research analysts have recently commented on ADP shares. Argus cut their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $108.00 price objective (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, William Blair cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $104.96.
In related news, insider Michael A. Bonarti sold 2,932 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $299,005.36. Following the sale, the insider now owns 46,256 shares in the company, valued at $4,717,186.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald Weinstein sold 1,933 shares of the stock in a transaction on Monday, July 3rd. The stock was 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 owns 25,737 shares in the company, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. Insiders sold 90,620 shares of company stock worth $9,435,757 in the last quarter.
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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