Peddock Capital Advisors LLC Has $146,000 Position in Automatic Data Processing (ADP)
Peddock Capital Advisors LLC decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,421 shares of the business services provider’s stock after selling 29 shares during the period. Peddock Capital Advisors LLC’s holdings in Automatic Data Processing were worth $146,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in 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 worth $3,033,995,000 after acquiring an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. grew its holdings in 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 worth $3,500,512,000 after acquiring an additional 1,430,863 shares in the last quarter. APG Asset Management N.V. grew its holdings in 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 worth $180,972,000 after acquiring an additional 657,209 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Automatic Data Processing during the 1st quarter worth $53,405,000. Finally, Alliancebernstein L.P. grew its holdings in Automatic Data Processing by 6.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after acquiring an additional 485,320 shares in the last quarter.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data 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 company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.01%.
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ADP has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $110.00 to $105.00 in a report on Tuesday, July 18th. William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $107.29.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 146,494 shares in the company, valued at approximately $16,114,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders have sold a total of 40,657 shares of company stock valued at $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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