Edmond DE Rothschild Holding S.A. bought a new position in Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,106 shares of the business services provider’s stock, valued at approximately $113,000.
Several other large investors have also recently bought and sold shares of ADP. Coconut Grove Bank increased 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 in the last quarter. Grisanti Capital Management LLC increased 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 in the last quarter. Guardian Life Insurance Co. of America increased 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 in the last quarter. Weatherly Asset Management L. P. purchased a new stake in Automatic Data Processing during the first quarter worth $209,000. Finally, Good Life Advisors LLC increased its stake in Automatic Data Processing by 2.5% in the first quarter. Good Life Advisors LLC now owns 2,153 shares of the business services provider’s stock worth $221,000 after buying an additional 52 shares in the last quarter.
Automatic Data Processing (NYSE ADP) traded down 0.08% on Friday, reaching $108.81. The company had a trading volume of 4,639,179 shares. The stock’s 50-day moving average price is $106.27 and its 200-day moving average price is $102.61. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The stock has a market capitalization of $48.35 billion and a P/E ratio of 28.26.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. On average, equities research analysts anticipate that Automatic Data Processing will post $3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%.
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A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reissued a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a report on Wednesday. Barclays PLC reissued a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. Robert W. Baird reissued a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a report on Friday, June 2nd. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $104.96.
In related news, VP Donald Weinstein sold 1,933 shares of the stock in a transaction dated 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 owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now directly owns 146,494 shares in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 90,620 shares of company stock worth $9,435,757 in the last three months.
About Automatic Data Processing
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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