Automatic Data Processing (ADP) Position Raised by Columbia Partners L L C Investment Management
Columbia Partners L L C Investment Management lifted its stake in shares of Automatic Data Processing (NYSE:ADP) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,566 shares of the business services provider’s stock after purchasing an additional 202 shares during the quarter. Columbia Partners L L C Investment Management’s holdings in Automatic Data Processing were worth $570,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC bought a new stake in Automatic Data Processing in the second quarter worth about $102,000. Proficio Capital Partners LLC raised its position in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Automatic Data Processing in the first quarter worth about $113,000. Grove Bank & Trust raised its position in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. raised its position in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares in the last quarter.
In other Automatic Data Processing news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing 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 transaction, 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.
Several brokerages have commented on ADP. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $111.57.
Automatic Data Processing (NYSE ADP) opened at $112.75 on Wednesday. Automatic Data Processing has a 12 month low of $87.58 and a 12 month high of $121.77.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 40.61% and a net margin of 13.04%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.24%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57.
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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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