Donaldson Capital Management LLC Has $29.30 Million Holdings in Automatic Data Processing (ADP)
Donaldson Capital Management LLC lowered its position in Automatic Data Processing (NYSE:ADP) by 1.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 285,924 shares of the business services provider’s stock after selling 3,811 shares during the period. Automatic Data Processing accounts for approximately 3.3% of Donaldson Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Donaldson Capital Management LLC owned approximately 0.06% of Automatic Data Processing worth $29,296,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ADP. BlackRock Inc. lifted its holdings in Automatic Data Processing by 1,971.2% in 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 purchasing an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Automatic Data Processing by 4.4% in 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 purchasing an additional 1,430,863 shares in the last quarter. American Century Companies Inc. lifted its holdings in Automatic Data Processing by 51.1% in 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 purchasing an additional 912,528 shares in the last quarter. APG Asset Management N.V. lifted its holdings in Automatic Data Processing by 59.3% in 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 purchasing an additional 657,209 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Automatic Data Processing in the 1st quarter valued at $53,405,000.
Automatic Data Processing (NYSE:ADP) opened at 113.48 on Friday. The stock has a market cap of $50.43 billion and a price-to-earnings ratio of 29.48. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The stock’s 50 day moving average price is $107.45 and its 200 day moving average price is $104.35.
Automatic Data Processing (NYSE:ADP) last issued 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 net margin of 8.67% and a return on equity of 26.39%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The firm’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 business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were given a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.01%.
A number of research analysts have weighed in on the company. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada raised their price objective on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. Robert W. Baird restated a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a report on Sunday, July 30th. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price objective (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $107.29.
In other news, VP Maria Black sold 631 shares of the company’s stock in a transaction on 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 in the company, valued at $1,125,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction on 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 owns 6,287 shares in the company, valued at $669,816.98. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock worth $4,457,476 over the last 90 days.
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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