Level Four Advisory Services LLC Has $610,000 Stake in Automatic Data Processing (NYSE:ADP)
Level Four Advisory Services LLC increased its stake in Automatic Data Processing (NYSE:ADP) by 5.6% during the first quarter, Holdings Channel reports. The fund owned 5,986 shares of the business services provider’s stock after buying an additional 320 shares during the period. Level Four Advisory Services LLC’s holdings in Automatic Data Processing were worth $610,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock valued at $2,353,000 after buying an additional 6,300 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in Automatic Data Processing by 39.7% in the first quarter. Koshinski Asset Management Inc. now owns 3,123 shares of the business services provider’s stock valued at $320,000 after buying an additional 887 shares during the period. Quadrant Capital Group LLC boosted its position in Automatic Data Processing by 2.5% in the first quarter. Quadrant Capital Group LLC now owns 3,126 shares of the business services provider’s stock valued at $312,000 after buying an additional 75 shares during the period. National Pension Service boosted its position in Automatic Data Processing by 2.8% in the first quarter. National Pension Service now owns 342,140 shares of the business services provider’s stock valued at $34,956,000 after buying an additional 9,337 shares during the period. Finally, First American Bank boosted its position in Automatic Data Processing by 19.6% in the first quarter. First American Bank now owns 27,631 shares of the business services provider’s stock valued at $2,829,000 after buying an additional 4,536 shares during the period.
Automatic Data Processing (NYSE:ADP) traded up 0.59% during midday trading on Friday, reaching $109.54. The company’s stock had a trading volume of 1,030,501 shares. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The firm has a 50 day moving average of $106.07 and a 200 day moving average of $102.56. The firm has a market cap of $48.68 billion and a P/E ratio of 28.45. Automatic Data Processing also was the target of unusually large options trading on Tuesday. Investors purchased 15,090 put options on the stock. This represents an increase of approximately 264% compared to the typical daily volume of 4,143 put options.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.02. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. Analysts anticipate that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.09%.
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Several equities analysts have recently weighed in on ADP shares. Argus cut their price objective on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a report on Wednesday, May 31st. Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $98.00 to $100.00 in a report on Thursday, August 3rd. Robert W. Baird reiterated a “neutral” rating and set a $95.00 price objective on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $104.96.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the transaction, the chief executive officer now owns 159,403 shares in the company, valued at $15,941,894.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the transaction, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,620 shares of company stock worth $9,435,757.
About Automatic Data Processing
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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