Ameritas Investment Partners Inc. Decreases Position in Automatic Data Processing (ADP)

Ameritas Investment Partners Inc. reduced its stake in shares of Automatic Data Processing (NYSE:ADP) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other hedge funds have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in Automatic Data Processing by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,165 shares of the business services provider’s stock valued at $1,662,000 after buying an additional 750 shares in the last quarter. PagnatoKarp Partners LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $307,000. GSB Wealth Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $345,000. Willis Investment Counsel raised its stake in Automatic Data Processing by 7.8% in the fourth quarter. Willis Investment Counsel now owns 116,100 shares of the business services provider’s stock valued at $11,933,000 after buying an additional 8,400 shares in the last quarter. Finally, SNS Financial Group LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $215,000.

Automatic Data Processing (ADP) opened at 104.58 on Friday. The stock has a market cap of $46.79 billion and a P/E ratio of 27.06. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $105.68. The firm’s 50-day moving average is $102.19 and its 200-day moving average is $101.71.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.08. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.42 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. On average, analysts forecast that Automatic Data Processing will post $3.71 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Ameritas Investment Partners Inc. Decreases Position in Automatic Data Processing (ADP)” was first published by BBNS and is the property of of BBNS. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://baseballnewssource.com/markets/ameritas-investment-partners-inc-decreases-position-in-automatic-data-processing-adp/1254060.html.

Several analysts have recently commented on ADP shares. BMO Capital Markets reiterated a “hold” rating and issued a $98.00 price target on shares of Automatic Data Processing in a research report on Wednesday, April 5th. Barclays PLC lowered their price target on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 25th. Argus lowered their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research report on Wednesday, May 31st. Evercore ISI reiterated an “underperform” rating and issued a $85.00 price target on shares of Automatic Data Processing in a research report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price target for the company from $115.00 to $108.00 in a research report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $98.43.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the business’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 transaction of $4,939,693.92. Following the transaction, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $197,127.34. Following the transaction, the vice president now directly owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. Insiders have sold 54,257 shares of company stock worth $5,435,827 over the last ninety days.

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with our FREE daily email newsletter.

 


Latest News

Chris Sale Reaches 200 Strikeouts in Record Time
Chris Sale Reaches 200 Strikeouts in Record Time
Veteran Pitcher Bartolo Colon Considering Retirement
Veteran Pitcher Bartolo Colon Considering Retirement
Todd Frazier Traded to Yankees for Blake Rutherford and Others
Todd Frazier Traded to Yankees for Blake Rutherford and Others
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Todd Frazier Trade to Boston Appears to Be Decided
Todd Frazier Trade to Boston Appears to Be Decided
Chicago White Sox Continue Rebuild Without Jose Quintana
Chicago White Sox Continue Rebuild Without Jose Quintana


Leave a Reply

 
© 2006-2017 BBNS.