Automatic Data Processing (ADP) Position Maintained by Bar Harbor Trust Services
Bar Harbor Trust Services continued to hold its position in shares of Automatic Data Processing (NYSE:ADP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,865 shares of the business services provider’s stock at the end of the 2nd quarter. Bar Harbor Trust Services’ holdings in Automatic Data Processing were worth $703,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake 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 buying an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 buying an additional 1,430,863 shares in the last quarter. American Century Companies Inc. lifted its stake 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 buying an additional 912,528 shares in the last quarter. APG Asset Management N.V. lifted its stake 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 buying 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 about $53,405,000.
A number of research analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and decreased their price target for the company from $115.00 to $108.00 in a research note on Tuesday, June 20th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada raised 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 note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $110.00 to $105.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $107.29.
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In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock worth $4,457,476 in the last ninety days.
Automatic Data Processing (ADP) opened at 113.48 on Monday. The firm has a 50-day moving average of $107.45 and a 200-day moving average of $104.35. The stock has a market capitalization of $50.43 billion and a price-to-earnings ratio of 29.48. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was 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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