Telemus Capital LLC Takes Position in Automatic Data Processing (ADP)
Telemus Capital LLC acquired a new position in shares of Automatic Data Processing (NYSE:ADP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,252 shares of the business services provider’s stock, valued at approximately $231,000.
Several other institutional investors also recently made changes to their positions in the company. Coconut Grove Bank raised its stake in Automatic Data Processing by 79.6% in the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 460 shares during the period. Grisanti Capital Management LLC raised its stake in Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Automatic Data Processing in the 1st quarter valued at $113,000. Grove Bank & Trust raised its stake in Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at $176,000.
In related 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 value of $197,127.34. Following the sale, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction that occurred on 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 owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders sold a total of 45,522 shares of company stock valued at $4,953,609 in the last three months.
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Shares of Automatic Data Processing (NYSE ADP) opened at 109.64 on Thursday. The firm has a market cap of $48.72 billion and a PE ratio of 28.48. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The company’s 50-day moving average price is $107.88 and its 200 day moving average price is $103.85.
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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the company earned $0.69 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post $3.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 7th.
A number of equities research analysts recently weighed in on ADP shares. Argus dropped their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI reaffirmed an “in-line” rating and issued a $115.00 price objective on shares of Automatic Data Processing in a report on Sunday, August 20th. Finally, BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $107.81.
Automatic Data Processing Company 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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