Taylor Cottrill Erickson & Associates Inc. Has $2.56 Million Holdings in Automatic Data Processing (ADP)
Taylor Cottrill Erickson & Associates Inc. reduced its stake in shares of Automatic Data Processing (NYSE:ADP) by 1.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,979 shares of the business services provider’s stock after selling 325 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in Automatic Data Processing were worth $2,559,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. BlackRock Inc. grew its position in shares of Automatic Data Processing by 1,971.2% during the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after acquiring an additional 28,201,085 shares during the period. Gardiner Nancy B boosted its holdings in Automatic Data Processing by 8.8% in the 2nd quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock worth $2,153,000 after buying an additional 1,705 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in Automatic Data Processing in the 1st quarter worth about $1,447,000. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Automatic Data Processing by 1.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock worth $3,957,000 after buying an additional 380 shares during the last quarter. Finally, First National Trust Co. boosted its holdings in Automatic Data Processing by 10.4% in the 1st quarter. First National Trust Co. now owns 42,694 shares of the business services provider’s stock worth $4,372,000 after buying an additional 4,005 shares during the last quarter.
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In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the transaction, the chief executive officer now directly 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 three months, insiders have sold 45,522 shares of company stock valued at $4,953,609.
Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. 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, August 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $107.81.
Shares of Automatic Data Processing (NYSE ADP) opened at 107.20 on Thursday. The stock has a market capitalization of $47.64 billion and a PE ratio of 27.84. The company has a 50-day moving average of $108.62 and a 200-day moving average of $103.74. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77.
Automatic Data Processing (NYSE:ADP) last released its quarterly 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). The firm had revenue of $3.06 billion for 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%. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. On average, equities research analysts expect that Automatic Data Processing will post $3.81 EPS for the current fiscal 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 issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 7th.
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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