Abner Herrman & Brock LLC Has $9,711,000 Position in Automatic Data Processing (ADP)
Abner Herrman & Brock LLC raised its position in shares of Automatic Data Processing (NYSE:ADP) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,097 shares of the company’s stock after buying an additional 3,775 shares during the period. Automatic Data Processing accounts for 2.2% of Abner Herrman & Brock LLC’s holdings, making the stock its 14th largest position. Abner Herrman & Brock LLC’s holdings in Automatic Data Processing were worth $9,711,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in ADP. Zions Bancorporation raised its stake in shares of Automatic Data Processing by 228.5% in the second quarter. Zions Bancorporation now owns 1,189 shares of the company’s stock worth $110,000 after buying an additional 827 shares during the period. Cornerstone Advisors Inc. raised its stake in shares of Automatic Data Processing by 406.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,246 shares of the company’s stock worth $114,000 after buying an additional 1,000 shares during the period. Hanson McClain Inc. raised its stake in shares of Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock worth $118,000 after buying an additional 25 shares during the period. Peddock Capital Advisors LLC acquired a new stake in shares of Automatic Data Processing during the third quarter worth $128,000. Finally, Pinkerton Retirement Specialists LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth $133,000.
Automatic Data Processing (NYSE:ADP) traded down 0.26% during trading on Wednesday, hitting $96.79. The stock had a trading volume of 747,987 shares. The company has a market cap of $43.67 billion and a price-to-earnings ratio of 28.96. The company has a 50-day moving average of $90.08 and a 200 day moving average of $89.59. Automatic Data Processing has a 52 week low of $76.65 and a 52 week high of $97.54.
Automatic Data Processing (NYSE:ADP) last announced its earnings results on Wednesday, November 2nd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The business earned $2.90 billion during the quarter, compared to the consensus estimate of $2.92 billion. Automatic Data Processing’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing will post $3.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be paid a $0.57 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, December 7th.
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A number of analysts have recently weighed in on the company. BMO Capital Markets restated a “hold” rating on shares of Automatic Data Processing in a research note on Thursday, November 3rd. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Finally, Wedbush began coverage on Automatic Data Processing in a research report on Thursday, September 8th. They issued a “neutral” rating and a $100.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $95.14.
In other news, VP Maria Black sold 527 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $90.00, for a total transaction of $47,430.00. Following the transaction, the vice president now directly owns 7,836 shares in the company, valued at approximately $705,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jan Siegmund sold 6,592 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $89.20, for a total value of $588,006.40. Following the transaction, the insider now owns 52,193 shares in the company, valued at $4,655,615.60. 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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