Automatic Data Processing (ADP) Stake Held by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC continued to hold its position in shares of Automatic Data Processing (NYSE:ADP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,401 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Automatic Data Processing were worth $496,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Bbva Compass Bancshares Inc. boosted its position in shares of Automatic Data Processing by 2.6% in the second quarter. Bbva Compass Bancshares Inc. now owns 24,028 shares of the company’s stock valued at $2,207,000 after buying an additional 612 shares during the period. Kanawha Capital Management LLC boosted its position in shares of Automatic Data Processing by 1.8% in the second quarter. Kanawha Capital Management LLC now owns 113,218 shares of the company’s stock valued at $10,401,000 after buying an additional 1,963 shares during the period. Finally, Spectrum Management Group Inc. boosted its position in shares of Automatic Data Processing by 283.9% in the second quarter. Spectrum Management Group Inc. now owns 8,560 shares of the company’s stock valued at $786,000 after buying an additional 6,330 shares during the period.
Automatic Data Processing (NYSE:ADP) traded up 0.3697% during mid-day trading on Tuesday, hitting $87.5625. The stock had a trading volume of 451,476 shares. The firm 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 $39.94 billion and a P/E ratio of 26.9589. 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 released its quarterly earnings results on Thursday, July 28th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. On average, analysts forecast that Automatic Data Processing will post $3.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were given 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.
Several research analysts recently issued reports on the company. Wedbush assumed coverage on Automatic Data Processing in a research note on Thursday, September 8th. They issued a “neutral” rating and a $100.00 price objective on the stock. Jefferies Group increased their target price on Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $93.00 target price on shares of Automatic Data Processing in a research report on Friday, July 29th. Citigroup Inc. reaffirmed a “neutral” rating and set a $90.00 target price (up previously from $89.00) on shares of Automatic Data Processing in a research report on Friday, July 29th. Finally, Robert W. Baird cut Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $95.14.
In other Automatic Data Processing news, insider Michael A. Bonarti sold 4,840 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $89.72, for a total value of $434,244.80. Following the sale, the insider now owns 41,746 shares of the company’s stock, valued at $3,745,451.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Deborah L. Dyson sold 898 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $88.06, for a total value of $79,077.88. Following the completion of the sale, the vice president now directly owns 11,891 shares in the company, valued at approximately $1,047,121.46. The disclosure for this sale can be found here.
About Automatic Data Processing
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.
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.