ZWJ Investment Counsel Inc. lessened its holdings in shares of Automatic Data Processing (NYSE:ADP) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,205 shares of the business services provider’s stock after selling 312 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Automatic Data Processing were worth $636,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Grisanti Capital Management LLC lifted its stake in shares of Automatic Data Processing by 4.5% during the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after purchasing an additional 45 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Automatic Data Processing during the 1st quarter worth $113,000. Grove Bank & Trust lifted its stake in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares during the period. Finally, Armbruster Capital Management Inc. lifted its stake in shares of Automatic Data Processing by 2.5% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after purchasing an additional 32 shares during the period.
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Automatic Data Processing (NYSE:ADP) opened at 113.09 on Thursday. The stock’s 50 day moving average is $108.30 and its 200 day moving average is $104.58. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The company has a market cap of $50.25 billion and a PE ratio of 29.37.
Automatic Data Processing (NYSE:ADP) last posted 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). Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing will post $3.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.02%.
ADP has been the topic of a number of recent analyst reports. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Morgan Stanley downgraded Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $98.00 to $100.00 in a report on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and set a $105.00 price objective on shares of Automatic Data Processing in a report on Tuesday, August 15th. BMO Capital Markets restated a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Citigroup Inc. restated a “neutral” rating and set a $110.00 price objective (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $107.29.
In related news, VP Maria Black sold 631 shares of the company’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction dated 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. In the last three months, insiders sold 40,657 shares of company stock worth $4,457,476.
About Automatic Data Processing
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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