Wheatland Advisors Inc. Has $1.27 Million Position in Automatic Data Processing (ADP)
Wheatland Advisors Inc. reduced its position in Automatic Data Processing (NYSE:ADP) by 8.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,400 shares of the business services provider’s stock after selling 1,100 shares during the period. Wheatland Advisors Inc.’s holdings in Automatic Data Processing were worth $1,271,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after purchasing an additional 28,201,085 shares during the period. Vanguard Group Inc. grew its stake in shares of Automatic Data Processing by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after buying an additional 1,430,863 shares during the period. American Century Companies Inc. grew its stake in shares of Automatic Data Processing by 51.1% during the 1st quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock valued at $276,227,000 after buying an additional 912,528 shares during the period. APG Asset Management N.V. grew its stake in shares of Automatic Data Processing by 59.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after buying an additional 657,209 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at $53,405,000.
Automatic Data Processing (NYSE:ADP) opened at 109.32 on Tuesday. The company has a 50 day moving average price of $107.10 and a 200 day moving average price of $104.13. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The firm has a market cap of $48.58 billion and a PE ratio of 28.39.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (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 firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the company posted $0.69 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that Automatic Data Processing will post $3.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.09%.
A number of research analysts recently weighed in on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Wednesday, August 9th. Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Royal Bank Of Canada lifted their price objective on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $107.81.
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In other news, VP Maria Black sold 631 shares of the firm’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were 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 directly owns 6,287 shares in the company, valued at $669,816.98. The disclosure for this sale can be found here. Insiders sold a total of 40,657 shares of company stock worth $4,457,476 in the last quarter.
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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