Automatic Data Processing (NYSE:ADP) Stake Maintained by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC maintained its position in Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 last quarter. 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 last quarter. Ibex Wealth Advisors bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $197,000. Weatherly Asset Management L. P. bought a new position in shares of Automatic Data Processing during the first quarter worth about $209,000. Finally, MCF Advisors LLC raised its position in shares of Automatic Data Processing by 18.8% in the first quarter. MCF Advisors LLC now owns 2,179 shares of the business services provider’s stock worth $223,000 after buying an additional 345 shares during the last quarter.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.26% during midday trading on Friday, reaching $104.41. 5,300,922 shares of the company’s stock traded hands. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The stock has a 50-day moving average price of $107.19 and a 200-day moving average price of $102.82. The stock has a market cap of $46.40 billion and a P/E ratio of 27.12.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results 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. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. Analysts forecast that Automatic Data Processing will post $3.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.18%.

WARNING: This piece was posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/19/automatic-data-processing-nyseadp-stake-held-by-richard-bernstein-advisors-llc-updated-updated-updated.html.

A number of brokerages have recently issued reports on ADP. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada upped their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Robert W. Baird reiterated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.35.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction on 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 sale, 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. Insiders sold a total of 90,620 shares of company stock valued at $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.

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

What are top analysts saying about Automatic Data Processing? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Automatic Data Processing and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit