Trust Co. of Toledo NA OH decreased its position in Automatic Data Processing (NYSE:ADP) by 0.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,457 shares of the business services provider’s stock after selling 2 shares during the period. Trust Co. of Toledo NA OH’s holdings in Automatic Data Processing were worth $969,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ADP. Liberty Capital Management Inc. raised its position in shares of Automatic Data Processing by 10.0% in the first quarter. Liberty Capital Management Inc. now owns 7,143 shares of the business services provider’s stock worth $731,000 after buying an additional 648 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock worth $2,353,000 after buying an additional 6,300 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Automatic Data Processing during the fourth quarter worth $1,501,000. Kentucky Retirement Systems bought a new position in shares of Automatic Data Processing during the fourth quarter worth $3,365,000. Finally, Teachers Advisors LLC raised its position in shares of Automatic Data Processing by 67.1% in the fourth quarter. Teachers Advisors LLC now owns 1,061,246 shares of the business services provider’s stock worth $109,075,000 after buying an additional 426,327 shares in the last quarter.
Automatic Data Processing (ADP) opened at 104.58 on Monday. The company has a market cap of $46.79 billion and a price-to-earnings ratio of 27.06. The firm’s 50-day moving average is $102.19 and its 200 day moving average is $101.71. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $105.68.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.08. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post $3.71 EPS for the current fiscal year.
A number of brokerages recently weighed in on ADP. Barclays PLC dropped their target price on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. Evercore ISI restated an “underperform” rating and set a $85.00 target price on shares of Automatic Data Processing in a research report on Friday, June 2nd. William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $98.43.
In other news, insider Michael A. Bonarti sold 2,932 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the sale, the insider now owns 46,256 shares of the company’s stock, valued at $4,717,186.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Donald Weinstein sold 1,933 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $197,127.34. Following the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. Insiders have sold 54,257 shares of company stock valued at $5,435,827 in the last ninety days.
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.
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