Automatic Data Processing (ADP) Shares Bought by Saybrook Capital NC

Saybrook Capital NC boosted its stake in shares of Automatic Data Processing (NYSE:ADP) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 68,192 shares of the business services provider’s stock after buying an additional 2,335 shares during the period. Automatic Data Processing makes up approximately 3.8% of Saybrook Capital NC’s holdings, making the stock its 10th largest holding. Saybrook Capital NC’s holdings in Automatic Data Processing were worth $6,982,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Coconut Grove Bank grew its position in Automatic Data Processing by 79.6% in the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 460 shares during the last quarter. Grisanti Capital Management LLC grew its position in Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 45 shares during the last quarter. Guardian Life Insurance Co. of America grew its position in Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after acquiring an additional 12 shares during the last quarter. Weatherly Asset Management L. P. bought a new position in Automatic Data Processing in the 1st quarter valued at $209,000. Finally, Good Life Advisors LLC grew its position in Automatic Data Processing by 2.5% in the 1st quarter. Good Life Advisors LLC now owns 2,153 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 52 shares during the last quarter.

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In other news, VP Donald Weinstein sold 1,933 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 146,494 shares in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,522 shares of company stock valued at $4,953,609.

Automatic Data Processing (NYSE:ADP) opened at 106.78 on Friday. The stock has a 50 day moving average price of $108.51 and a 200 day moving average price of $103.81. The stock has a market capitalization of $47.45 billion and a PE ratio of 27.74. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last announced its earnings results 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 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 firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Equities analysts forecast that Automatic Data Processing will post $3.81 EPS for the current year.

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

A number of equities analysts have recently issued reports on ADP shares. BMO Capital Markets reissued a “market perform” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a research report on Friday. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $107.81.

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.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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