Crestwood Advisors Group LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,575 shares of the business services provider’s stock after buying an additional 57 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Automatic Data Processing were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Bromfield Sneider Wealth Advisors bought a new position in shares of Automatic Data Processing during the 1st quarter valued at $56,000. Carnegie Capital Asset Management LLC increased its position in Automatic Data Processing by 12.8% during the first quarter. Carnegie Capital Asset Management LLC now owns 8,655 shares of the business services provider’s stock worth $1,969,000 after buying an additional 982 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Automatic Data Processing by 16.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 7,035 shares of the business services provider’s stock worth $1,601,000 after buying an additional 977 shares during the last quarter. Oakworth Capital Inc. raised its holdings in Automatic Data Processing by 15.2% during the first quarter. Oakworth Capital Inc. now owns 3,489 shares of the business services provider’s stock valued at $793,000 after buying an additional 461 shares in the last quarter. Finally, Veriti Management LLC boosted its stake in shares of Automatic Data Processing by 1.5% during the 1st quarter. Veriti Management LLC now owns 12,223 shares of the business services provider’s stock worth $2,781,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 78.84% of the company’s stock.
In other Automatic Data Processing news, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the transaction, the vice president now directly owns 1,663 shares in the company, valued at approximately $355,998.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Deborah L. Dyson sold 2,787 shares of the stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $234.55, for a total value of $653,690.85. Following the completion of the transaction, the vice president now owns 26,663 shares in the company, valued at $6,253,806.65. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its earnings results on Wednesday, April 27th. The business services provider reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.13. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 6.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, June 9th. This represents a $4.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s payout ratio is 61.45%.
Several analysts recently issued reports on the stock. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price objective for the company in a report on Wednesday, March 9th. Barclays raised their price target on Automatic Data Processing from $238.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, May 2nd. Citigroup lifted their price objective on Automatic Data Processing from $212.00 to $230.00 in a research note on Monday, May 2nd. Mizuho increased their target price on Automatic Data Processing from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Automatic Data Processing from $203.00 to $234.00 in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $230.69.
About Automatic Data Processing (Get Rating)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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