Automatic Data Processing (ADP) Stake Increased by Delta Lloyd NV
Delta Lloyd NV raised its stake in shares of Automatic Data Processing (NYSE:ADP) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,444 shares of the business services provider’s stock after buying an additional 5,125 shares during the period. Delta Lloyd NV’s holdings in Automatic Data Processing were worth $4,226,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ADP. Coconut Grove Bank raised its stake in shares of 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 valued at $106,000 after buying an additional 460 shares during the last quarter. Grisanti Capital Management LLC raised its position in shares of 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 valued at $107,000 after buying an additional 45 shares during the last quarter. Ibex Wealth Advisors purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at about $197,000. Weatherly Asset Management L. P. purchased a new position in shares of Automatic Data Processing during the first quarter valued at about $209,000. Finally, MCF Advisors LLC raised its position in Automatic Data Processing by 18.8% in the first quarter. MCF Advisors LLC now owns 2,179 shares of the business services provider’s stock worth $223,000 after buying an additional 345 shares in the last quarter.
Shares of Automatic Data Processing (NYSE ADP) traded down 0.26% on Friday, reaching $104.41. The company had a trading volume of 5,300,922 shares. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm has a market capitalization of $46.40 billion and a price-to-earnings ratio of 27.12. The stock’s 50 day moving average is $107.19 and its 200 day moving average is $102.82.
Automatic Data Processing (NYSE:ADP) last posted 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 for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, equities analysts anticipate 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. Stockholders of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.18%.
A number of research firms have recently weighed in on ADP. Citigroup Inc. raised their target price on Automatic Data Processing from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday. Barclays PLC reaffirmed an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Tuesday. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Finally, Argus raised their target price on Automatic Data Processing from $118.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $105.35.
In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael A. Bonarti sold 2,932 shares of the company’s 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 $299,005.36. Following the sale, the insider now directly owns 46,256 shares in the company, valued at $4,717,186.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,620 shares of company stock worth $9,435,757.
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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