Curbstone Financial Management Corp Decreases Position in Automatic Data Processing (ADP)
Curbstone Financial Management Corp decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,835 shares of the business services provider’s stock after selling 39 shares during the period. Curbstone Financial Management Corp’s holdings in Automatic Data Processing were worth $290,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Pioneer Trust Bank N A OR acquired a new stake in Automatic Data Processing in the 2nd quarter valued at about $266,000. DnB Asset Management AS raised its position in Automatic Data Processing by 1.8% in the 2nd quarter. DnB Asset Management AS now owns 51,454 shares of the business services provider’s stock valued at $5,272,000 after purchasing an additional 900 shares in the last quarter. Bath Savings Trust Co raised its position in Automatic Data Processing by 0.3% in the 2nd quarter. Bath Savings Trust Co now owns 79,240 shares of the business services provider’s stock valued at $8,119,000 after purchasing an additional 255 shares in the last quarter. Park National Corp OH raised its position in Automatic Data Processing by 0.3% in the 2nd quarter. Park National Corp OH now owns 354,962 shares of the business services provider’s stock valued at $36,369,000 after purchasing an additional 1,188 shares in the last quarter. Finally, M Holdings Securities Inc. raised its position in Automatic Data Processing by 3.3% in the 1st quarter. M Holdings Securities Inc. now owns 3,370 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 107 shares in the last quarter.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.637% during midday trading on Tuesday, hitting $108.185. The stock had a trading volume of 873,994 shares. The company has a market cap of $48.07 billion and a P/E ratio of 28.100. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock has a 50 day moving average of $108.53 and a 200-day moving average of $103.67.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. 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 firm posted $0.69 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Analysts forecast that Automatic Data Processing will post $3.81 EPS for the current fiscal year.
The company 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 2.12%. The ex-dividend date of this dividend is Thursday, September 7th.
A number of equities research analysts have issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. Evercore ISI lowered Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price target on the stock. in a research report on Friday, June 2nd. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $107.81.
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In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 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 $197,127.34. Following the sale, the vice president now owns 25,737 shares in the company, valued at $2,624,659.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Maria Black sold 631 shares of the company’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders have sold 45,522 shares of company stock worth $4,953,609 in the last 90 days.
Automatic Data Processing 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.
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