Campbell & CO Investment Adviser LLC Takes Position in Automatic Data Processing (NYSE:ADP)

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Automatic Data Processing (NYSE:ADP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,066 shares of the business services provider’s stock, valued at approximately $1,339,000. Automatic Data Processing comprises 1.2% of Campbell & CO Investment Adviser LLC’s portfolio, making the stock its 3rd largest holding.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after purchasing an additional 1,430,863 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after purchasing an additional 28,201,085 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after purchasing an additional 485,320 shares during the last quarter. Polen Capital Management LLC grew its holdings in shares of Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after purchasing an additional 479,558 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after purchasing an additional 307,521 shares during the last quarter.

A number of research analysts have recently commented on ADP shares. Argus cut their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a report on Wednesday, May 31st. Deutsche Bank AG restated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a report on Monday, August 21st. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI restated an “in-line” rating and issued a $115.00 price target on shares of Automatic Data Processing in a report on Sunday, August 20th. Finally, Robert W. Baird restated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $107.81.

TRADEMARK VIOLATION NOTICE: “Campbell & CO Investment Adviser LLC Takes Position in Automatic Data Processing (NYSE:ADP)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://ledgergazette.com/2017/09/17/campbell-co-investment-adviser-llc-takes-position-in-automatic-data-processing-adp.html.

In other news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at $16,114,340. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,522 shares of company stock valued at $4,953,609.

Automatic Data Processing (NYSE:ADP) traded down 0.01% during mid-day trading on Friday, hitting $106.78. 3,116,724 shares of the company’s stock traded hands. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The firm’s 50-day moving average price is $108.51 and its 200-day moving average price is $103.81. The stock has a market cap of $47.45 billion and a PE ratio of 27.74.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, analysts forecast that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 7th.

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.

Institutional Ownership by Quarter 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.

Leave a Reply