KBC Group NV Sells 37,501 Shares of Automatic Data Processing (ADP)

KBC Group NV lowered its position in shares of Automatic Data Processing (NYSE:ADP) by 26.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 105,665 shares of the business services provider’s stock after selling 37,501 shares during the period. KBC Group NV’s holdings in Automatic Data Processing were worth $10,826,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Grisanti Capital Management LLC grew its position in shares of Automatic Data Processing by 4.5% during the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after acquiring an additional 45 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Automatic Data Processing during the first quarter worth about $113,000. Grove Bank & Trust grew its position in shares of Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. grew its position in shares of Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares during the last quarter.

Shares of Automatic Data Processing (ADP) opened at 114.11 on Wednesday. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The company has a 50-day moving average of $108.03 and a 200 day moving average of $104.51. The firm has a market cap of $50.71 billion and a P/E ratio of 29.64.

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

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.00%.

In related news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing 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 completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing 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 completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,657 shares of company stock valued at $4,457,476.

COPYRIGHT VIOLATION WARNING: “KBC Group NV Sells 37,501 Shares of Automatic Data Processing (ADP)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://ledgergazette.com/2017/10/11/kbc-group-nv-sells-37501-shares-of-automatic-data-processing-adp.html.

ADP has been the subject of several recent research reports. Goldman Sachs Group, Inc. (The) lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. Finally, William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a

Other institutional investors have also recently added to or reduced their stakes in the company. Grisanti Capital Management LLC grew its position in shares of Automatic Data Processing by 4.5% during the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after acquiring an additional 45 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Automatic Data Processing during the first quarter worth about $113,000. Grove Bank & Trust grew its position in shares of Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. grew its position in shares of Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares during the last quarter.

Shares of Automatic Data Processing (ADP) opened at 114.11 on Wednesday. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The company has a 50-day moving average of $108.03 and a 200 day moving average of $104.51. The firm has a market cap of $50.71 billion and a P/E ratio of 29.64.

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

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.00%.

In related news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing 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 completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing 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 completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,657 shares of company stock valued at $4,457,476.

COPYRIGHT VIOLATION WARNING: “KBC Group NV Sells 37,501 Shares of Automatic Data Processing (ADP)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://ledgergazette.com/2017/10/11/kbc-group-nv-sells-37501-shares-of-automatic-data-processing-adp.html.

ADP has been the subject of several recent research reports. Goldman Sachs Group, Inc. (The) lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. Finally, William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $107.29.

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

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