OppenheimerFunds Inc. raised its stake in Automatic Data Processing (NYSE:ADP) by 4.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,524 shares of the business services provider’s stock after buying an additional 618 shares during the period. OppenheimerFunds Inc.’s holdings in Automatic Data Processing were worth $1,487,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First National Trust Co. boosted its position in Automatic Data Processing by 10.4% in the first quarter. First National Trust Co. now owns 42,694 shares of the business services provider’s stock valued at $4,372,000 after buying an additional 4,005 shares in the last quarter. Community Bank & Trust Waco Texas boosted its position in Automatic Data Processing by 1.3% in the first quarter. Community Bank & Trust Waco Texas now owns 8,000 shares of the business services provider’s stock valued at $819,000 after buying an additional 100 shares in the last quarter. Donaldson Capital Management LLC boosted its position in Automatic Data Processing by 1.2% in the first quarter. Donaldson Capital Management LLC now owns 289,735 shares of the business services provider’s stock valued at $29,666,000 after buying an additional 3,538 shares in the last quarter. Buffington Mohr McNeal boosted its position in Automatic Data Processing by 10.2% in the first quarter. Buffington Mohr McNeal now owns 4,335 shares of the business services provider’s stock valued at $444,000 after buying an additional 400 shares in the last quarter. Finally, Fundsmith LLP boosted its position in Automatic Data Processing by 3.4% in the first quarter. Fundsmith LLP now owns 4,011,368 shares of the business services provider’s stock valued at $410,724,000 after buying an additional 133,125 shares in the last quarter.
Automatic Data Processing (ADP) traded down 0.33% during mid-day trading on Friday, reaching $104.33. The company’s stock had a trading volume of 808,214 shares. The stock’s 50-day moving average is $107.10 and its 200-day moving average is $102.80. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The firm has a market capitalization of $46.36 billion and a PE ratio of 27.10.
Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Automatic Data Processing will post $3.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.18%.
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A number of analysts recently issued reports on the company. Argus decreased their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research report on Wednesday, May 31st. Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Robert W. Baird reissued a “neutral” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research report on Sunday, July 30th. Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $98.00 to $100.00 in a research report on Thursday, August 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $105.35.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares in the company, valued at $16,114,340. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now 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 90 days, 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.
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