Conning Inc. lifted its holdings in shares of Automatic Data Processing (NYSE:ADP) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,878 shares of the business services provider’s stock after acquiring an additional 19,194 shares during the period. Conning Inc. owned approximately 0.06% of Automatic Data Processing worth $28,062,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of ADP. BlackRock Inc. increased its position in shares of Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after acquiring an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 4.4% during the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after acquiring an additional 1,430,863 shares in the last quarter. American Century Companies Inc. grew its position in Automatic Data Processing by 51.1% in the 1st quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after purchasing an additional 912,528 shares in the last quarter. APG Asset Management N.V. grew its position in Automatic Data Processing by 59.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock worth $180,972,000 after purchasing an additional 657,209 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Automatic Data Processing in the 1st quarter worth about $53,405,000.
Automatic Data Processing (ADP) opened at 113.48 on Friday. The firm has a 50-day moving average of $107.45 and a 200-day moving average of $104.35. The stock has a market capitalization of $50.43 billion and a PE ratio of 29.48. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing will post $3.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders 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 dividend yield of 2.01%.
ADP has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Barclays PLC downgraded shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. William Blair downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $107.29.
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In other news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 1st. The stock was 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 owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock valued at $4,457,476 over the last quarter.
Automatic Data Processing 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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