IHT Wealth Management LLC increased its position in Automatic Data Processing (NYSE:ADP) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,145 shares of the business services provider’s stock after purchasing an additional 7 shares during the quarter. IHT Wealth Management LLC’s holdings in Automatic Data Processing were worth $524,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in ADP. Coconut Grove Bank grew its position in shares of Automatic Data Processing by 79.6% during the 1st 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 during the period. Grisanti Capital Management LLC grew its position in shares of Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $113,000. Harbour Capital Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $176,000. Finally, Guardian Life Insurance Co. of America grew its position in shares of Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 12 shares during the period.
ADP has been the subject of several research analyst reports. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC cut Automatic Data Processing from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $110.00 to $105.00 in a research note on Tuesday, July 18th. William Blair cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Deutsche Bank AG restated a “hold” rating and issued a $102.00 target price on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Evercore ISI cut Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price on the stock. in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $107.81.
In other news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the transaction, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,522 shares of company stock valued at $4,953,609.
Shares of Automatic Data Processing (NYSE ADP) opened at 108.16 on Friday. The stock’s 50 day moving average price is $107.88 and its 200 day moving average price is $103.85. The firm has a market capitalization of $48.06 billion and a price-to-earnings ratio of 28.09. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Equities research analysts expect that Automatic Data Processing will post $3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.11%.
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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