Ameritas Investment Partners Inc. reduced its position in shares of Automatic Data Processing (NYSE:ADP) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,573 shares of the business services provider’s stock after selling 704 shares during the period. Ameritas Investment Partners Inc.’s holdings in Automatic Data Processing were worth $2,822,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Coconut Grove Bank raised its stake 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 in the last quarter. Grisanti Capital Management LLC raised its stake 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 in the last quarter. Sowell Financial Services LLC bought a new position in Automatic Data Processing during the fourth quarter worth approximately $180,000. Ibex Wealth Advisors bought a new position in Automatic Data Processing during the fourth quarter worth approximately $197,000. Finally, Weatherly Asset Management L. P. bought a new position in Automatic Data Processing during the first quarter worth approximately $209,000.
Shares of Automatic Data Processing (NYSE:ADP) opened at 108.51 on Wednesday. The firm has a market cap of $48.21 billion and a PE ratio of 28.18. The company has a 50-day moving average of $105.31 and a 200 day moving average of $102.37. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by $0.02. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted $0.69 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing will post $3.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, September 7th.
A number of research analysts have commented on the stock. Argus upped their target price on shares of Automatic Data Processing from $118.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Morgan Stanley cut shares of 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. Royal Bank Of Canada upped their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $104.96.
In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,932 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $299,005.36. Following the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s 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 sale, the chief executive officer now directly owns 159,403 shares in the company, valued at $15,941,894.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,620 shares of company stock worth $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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