Wimmer Associates 1 LLC Has $584,000 Stake in Automatic Data Processing (ADP)

Wimmer Associates 1 LLC continued to hold its stake in shares of Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,700 shares of the business services provider’s stock at the end of the first quarter. Wimmer Associates 1 LLC’s holdings in Automatic Data Processing were worth $584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Savant Capital LLC boosted its position in Automatic Data Processing by 85.0% in the first quarter. Savant Capital LLC now owns 4,704 shares of the business services provider’s stock worth $482,000 after buying an additional 2,161 shares during the last quarter. Beacon Trust Co. boosted its position in Automatic Data Processing by 0.6% in the first quarter. Beacon Trust Co. now owns 101,031 shares of the business services provider’s stock worth $10,368,000 after buying an additional 599 shares during the last quarter. Independent Advisor Alliance boosted its position in Automatic Data Processing by 12.8% in the first quarter. Independent Advisor Alliance now owns 3,736 shares of the business services provider’s stock worth $381,000 after buying an additional 425 shares during the last quarter. Martingale Asset Management L P boosted its position in Automatic Data Processing by 1.4% in the first quarter. Martingale Asset Management L P now owns 7,194 shares of the business services provider’s stock worth $737,000 after buying an additional 102 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in Automatic Data Processing by 2.0% in the first quarter. Coldstream Capital Management Inc. now owns 22,625 shares of the business services provider’s stock worth $2,317,000 after buying an additional 445 shares during the last quarter.

Automatic Data Processing (ADP) opened at 108.51 on Wednesday. The stock has a market capitalization of $48.21 billion and a price-to-earnings ratio of 28.18. The firm has a 50-day moving average of $105.31 and a 200 day moving average of $102.37. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last announced its earnings results 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 17.24% and a return on equity of 59.56%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing will post $3.82 EPS for the current 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.

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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 reissued a “hold” rating and set a $108.00 price target (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 related 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 transaction of $299,005.36. Following the sale, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.

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

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