Automatic Data Processing (ADP) Position Decreased by Eads & Heald Investment Counsel
Eads & Heald Investment Counsel reduced its position in Automatic Data Processing (NYSE:ADP) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,957 shares of the company’s stock after selling 264 shares during the period. Eads & Heald Investment Counsel’s holdings in Automatic Data Processing were worth $1,742,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Kanawha Capital Management LLC increased its stake in Automatic Data Processing by 1.8% in the second quarter. Kanawha Capital Management LLC now owns 113,218 shares of the company’s stock worth $10,401,000 after buying an additional 1,963 shares during the period. 1ST Source Bank increased its stake in Automatic Data Processing by 0.3% in the second quarter. 1ST Source Bank now owns 52,438 shares of the company’s stock worth $4,818,000 after buying an additional 176 shares during the period. Bbva Compass Bancshares Inc. increased its stake in Automatic Data Processing by 2.6% in the second quarter. Bbva Compass Bancshares Inc. now owns 24,028 shares of the company’s stock worth $2,207,000 after buying an additional 612 shares during the period. Finally, Spectrum Management Group Inc. increased its stake in Automatic Data Processing by 283.9% in the second quarter. Spectrum Management Group Inc. now owns 8,560 shares of the company’s stock worth $786,000 after buying an additional 6,330 shares during the period.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.26% during midday trading on Tuesday, hitting $87.47. The stock had a trading volume of 409,623 shares. The stock has a 50-day moving average of $88.08 and a 200 day moving average of $89.28. The stock has a market cap of $39.90 billion and a PE ratio of 26.93. Automatic Data Processing has a 52 week low of $76.65 and a 52 week high of $96.00.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Analysts anticipate that Automatic Data Processing will post $3.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, September 7th.
A number of equities research analysts have weighed in on ADP shares. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. restated a “hold” rating and issued a $93.00 target price on shares of Automatic Data Processing in a research report on Friday, July 29th. Wedbush started coverage on Automatic Data Processing in a research report on Thursday, September 8th. They issued a “neutral” rating and a $100.00 target price for the company. Jefferies Group upped their target price on Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $90.00 price objective (up previously from $89.00) on shares of Automatic Data Processing in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $95.14.
In other news, VP Maria Black sold 527 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $90.00, for a total transaction of $47,430.00. Following the completion of the sale, the vice president now owns 7,836 shares of the company’s stock, valued at $705,240. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $89.91, for a total transaction of $899,100.00. Following the sale, the chief executive officer now directly owns 119,877 shares of the company’s stock, valued at approximately $10,778,141.07. The disclosure for this sale can be found here.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
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