Crow Point Partners LLC lowered its position in Automatic Data Processing (NYSE:ADP) by 23.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,481 shares of the business services provider’s stock after selling 761 shares during the period. Crow Point Partners LLC’s holdings in Automatic Data Processing were worth $252,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of ADP. Coconut Grove Bank boosted its stake in Automatic Data Processing by 79.6% in the first 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 boosted its stake in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after buying an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Automatic Data Processing during the first quarter worth approximately $113,000. Harbour Capital Advisors LLC purchased a new stake in Automatic Data Processing during the first quarter worth approximately $176,000. Finally, Guardian Life Insurance Co. of America boosted its stake in Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period.
Automatic Data Processing (NYSE ADP) opened at 103.34 on Friday. The firm has a market cap of $46.24 billion and a PE ratio of 26.74. The company has a 50-day moving average price of $102.19 and a 200 day moving average price of $101.71. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $105.68.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.08. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.17 earnings per share. Equities research analysts anticipate that Automatic Data Processing will post $3.71 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “Automatic Data Processing (ADP) Shares Sold by Crow Point Partners LLC” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://stocknewstimes.com/2017/07/21/automatic-data-processing-adp-shares-sold-by-crow-point-partners-llc.html.
A number of analysts have recently commented on the company. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. 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 report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their target price for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and an average target price of $98.43.
In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the 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 completion of the transaction, the chief executive officer now directly owns 159,403 shares in the company, valued at $15,941,894.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the 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 completion of the transaction, the vice president now owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Insiders sold 54,257 shares of company stock valued at $5,435,827 over the last quarter.
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.
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).
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 MarketBeat.com's FREE daily email newsletter.
