Prudential Financial Inc. decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 632,918 shares of the business services provider’s stock after selling 7,100 shares during the period. Prudential Financial Inc.’s holdings in Automatic Data Processing were worth $64,804,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after buying an additional 912,528 shares in the last quarter. Teachers Advisors LLC increased 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. Karp Capital Management Corp acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $43,183,000. Swiss National Bank increased its position in shares of Automatic Data Processing by 17.3% in the first quarter. Swiss National Bank now owns 2,391,985 shares of the business services provider’s stock worth $244,915,000 after buying an additional 353,200 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Automatic Data Processing by 985.2% in the first quarter. Private Advisor Group LLC now owns 356,179 shares of the business services provider’s stock worth $9,694,000 after buying an additional 323,359 shares in the last quarter.
Automatic Data Processing (NYSE:ADP) traded down 3.26% during midday trading on Tuesday, hitting $108.51. The stock had a trading volume of 9,710,895 shares. The stock has a market cap of $48.21 billion and a PE ratio of 28.18. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company’s 50 day moving average price is $104.36 and its 200-day moving average price is $102.14.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Analysts forecast that Automatic Data Processing will post $3.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, September 7th.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a report on Friday, June 2nd. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, William Blair downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $104.96.
In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the transaction, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the transaction, the chief executive officer now directly owns 146,494 shares in the company, valued at $16,114,340. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,620 shares of company stock valued at $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.
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