Automatic Data Processing (ADP) Holdings Trimmed by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lowered its stake in shares of Automatic Data Processing (NYSE:ADP) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,376 shares of the business services provider’s stock after selling 600 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Automatic Data Processing were worth $756,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADP. Grisanti Capital Management LLC raised its stake in shares of Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 45 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Automatic Data Processing by 130.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 47,408 shares of the business services provider’s stock valued at $4,854,000 after acquiring an additional 26,808 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 11.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 5,755 shares of the business services provider’s stock valued at $589,000 after acquiring an additional 600 shares during the period. Girard Partners LTD. raised its stake in shares of Automatic Data Processing by 11.8% in the 1st quarter. Girard Partners LTD. now owns 10,780 shares of the business services provider’s stock valued at $1,104,000 after acquiring an additional 1,134 shares during the period. Finally, HPM Partners LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at $983,000.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 7th.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders sold a total of 40,657 shares of company stock worth $4,457,476 in the last three months.

A number of brokerages have recently commented on ADP. Royal Bank Of Canada reissued a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Robert W. Baird reissued a “neutral” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $107.29.

TRADEMARK VIOLATION WARNING: “Automatic Data Processing (ADP) Holdings Trimmed by Adell Harriman & Carpenter Inc.” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.com-unik.info/2017/10/13/automatic-data-processing-adp-holdings-trimmed-by-adell-harriman-carpenter-inc.html.

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