Private Trust Co. NA raised its holdings in Automatic Data Processing (NASDAQ:ADP) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,237 shares of the business services provider’s stock after purchasing an additional 406 shares during the period. Private Trust Co. NA’s holdings in Automatic Data Processing were worth $1,239,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ADP. Truewealth LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $104,000. Icon Wealth Partners LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $139,000. Captrust Financial Advisors acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $180,000. AIMZ Investment Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $203,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $217,000. 78.64% of the stock is currently owned by institutional investors.
In other Automatic Data Processing news, VP Maria Black sold 8,137 shares of Automatic Data Processing stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $138.22, for a total value of $1,124,696.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Stuart Sackman sold 2,685 shares of Automatic Data Processing stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $135.01, for a total value of $362,501.85. Following the completion of the sale, the vice president now owns 21,740 shares in the company, valued at approximately $2,935,117.40. The disclosure for this sale can be found here. Insiders sold 21,438 shares of company stock worth $2,919,488 in the last 90 days. Company insiders own 0.25% of the company’s stock.
NASDAQ ADP opened at $134.86 on Tuesday. The firm has a market cap of $59.09 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 2.73 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Automatic Data Processing has a fifty-two week low of $100.51 and a fifty-two week high of $141.52.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.08. Automatic Data Processing had a return on equity of 45.69% and a net margin of 13.60%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. equities analysts anticipate that Automatic Data Processing will post 4.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, July 1st. Shareholders of record on Friday, June 8th were given a $0.69 dividend. The ex-dividend date was Thursday, June 7th. This represents a $2.76 dividend on an annualized basis and a yield of 2.05%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.63. Automatic Data Processing’s payout ratio is currently 74.59%.
A number of brokerages have recently issued reports on ADP. BMO Capital Markets lifted their price target on Automatic Data Processing from $118.00 to $126.00 and gave the stock a “market perform” rating in a research note on Thursday, May 3rd. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Deutsche Bank lifted their price target on Automatic Data Processing from $128.00 to $138.00 and gave the stock a “hold” rating in a research note on Wednesday, June 13th. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Finally, Wedbush lifted their price target on Automatic Data Processing from $101.25 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 13th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $132.00.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions.
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