Automatic Data Processing (ADP) Position Cut by Ingalls & Snyder LLC
Ingalls & Snyder LLC reduced its position in shares of Automatic Data Processing (NYSE:ADP) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,103 shares of the company’s stock after selling 251 shares during the period. Ingalls & Snyder LLC’s holdings in Automatic Data Processing were worth $2,655,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ADP. Alpha Windward LLC raised its position in Automatic Data Processing by 0.6% in the third quarter. Alpha Windward LLC now owns 2,555 shares of the company’s stock valued at $225,000 after buying an additional 16 shares during the period. Sequoia Financial Advisors LLC raised its position in Automatic Data Processing by 0.5% in the second quarter. Sequoia Financial Advisors LLC now owns 3,747 shares of the company’s stock valued at $344,000 after buying an additional 20 shares during the period. HBK Sorce Advisory LLC raised its position in Automatic Data Processing by 1.0% in the second quarter. HBK Sorce Advisory LLC now owns 2,333 shares of the company’s stock valued at $214,000 after buying an additional 24 shares during the period. Hanson McClain Inc. raised its position in Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock valued at $118,000 after buying an additional 25 shares during the period. Finally, IFC Holdings Incorporated FL raised its position in Automatic Data Processing by 0.3% in the third quarter. IFC Holdings Incorporated FL now owns 7,682 shares of the company’s stock valued at $678,000 after buying an additional 25 shares during the period.
Automatic Data Processing (NYSE:ADP) traded down 1.05% during mid-day trading on Wednesday, hitting $96.02. 2,812,477 shares of the stock were exchanged. The stock has a market capitalization of $43.32 billion and a P/E ratio of 28.73. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $97.54. The firm has a 50-day moving average price of $90.08 and a 200-day moving average price of $89.59.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.10. The firm earned $2.90 billion during the quarter, compared to analyst estimates of $2.92 billion. Automatic Data Processing’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Equities analysts predict that Automatic Data Processing will post $3.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.53. The ex-dividend date is Wednesday, December 7th.
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Several equities analysts have recently weighed in on the stock. BMO Capital Markets restated a “hold” rating on shares of Automatic Data Processing in a research report on Thursday, November 3rd. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Finally, Wedbush assumed coverage on shares of Automatic Data Processing in a research note on Thursday, September 8th. They set a “neutral” rating and a $100.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and an average price target of $95.14.
In other news, VP Maria Black sold 527 shares of the business’s 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 completion of the transaction, the vice president now directly owns 7,836 shares in the company, valued at approximately $705,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carlos A. Rodriguez sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $89.91, for a total value of $899,100.00. Following the transaction, the chief executive officer now owns 119,877 shares of the company’s stock, valued at $10,778,141.07. 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.
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