Laffer Investments Has $2,267,000 Holdings in Automatic Data Processing (ADP)

Laffer Investments continued to hold its position in Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,145 shares of the business services provider’s stock at the end of the first quarter. Laffer Investments’ holdings in Automatic Data Processing were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after purchasing an additional 1,430,863 shares in the last quarter. BlackRock Inc. raised its stake in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after purchasing an additional 485,320 shares in the last quarter. Polen Capital Management LLC raised its stake in shares of Automatic Data Processing by 8.3% in the 1st quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock valued at $639,992,000 after purchasing an additional 479,558 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Automatic Data Processing by 6.9% during the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after acquiring an additional 307,521 shares during the period.

In other news, VP Brock Albinson sold 3,663 shares of the business’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 of the company’s stock, valued at $669,816.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders sold a total of 45,522 shares of company stock worth $4,953,609 over the last 90 days.

Several equities research analysts recently weighed in on ADP shares. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC cut shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. William Blair cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Deutsche Bank AG restated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Evercore ISI downgraded shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $107.81.

Shares of Automatic Data Processing (ADP) traded up 0.19% during trading on Friday, hitting $106.99. 1,261,770 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $108.76 and its 200-day moving average price is $103.78. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The stock has a market cap of $47.54 billion and a PE ratio of 27.79.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The firm 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 posted $0.69 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, September 7th.

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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.

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

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