National Pension Service Has $38.19 Million Position in Automatic Data Processing (ADP)
National Pension Service increased its stake in shares of Automatic Data Processing (NYSE:ADP) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,403 shares of the business services provider’s stock after buying an additional 34,263 shares during the quarter. National Pension Service owned 0.08% of Automatic Data Processing worth $38,190,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Coconut Grove Bank lifted its position in shares of Automatic Data Processing by 79.6% during the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock worth $106,000 after buying an additional 460 shares during the period. Grisanti Capital Management LLC lifted its position in shares of Automatic Data Processing by 4.5% during the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after buying an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $113,000. Harbour Capital Advisors LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $176,000. Finally, Guardian Life Insurance Co. of America lifted its position in shares of Automatic Data Processing by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period.
Several research firms recently commented on ADP. Royal Bank Of Canada restated a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Friday, September 15th. BMO Capital Markets restated a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Robert W. Baird restated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $107.81.
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In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the completion of the sale, the insider now directly owns 46,256 shares in the company, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,522 shares of company stock worth $4,953,609.
Shares of Automatic Data Processing (ADP) traded down 0.0133% during trading on Thursday, reaching $106.8158. The company’s stock had a trading volume of 584,120 shares. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company has a market cap of $47.47 billion and a PE ratio of 27.7444. The firm’s 50-day moving average is $107.88 and its 200 day moving average is $103.85.
Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. On average, equities research analysts predict that Automatic Data Processing will post $3.81 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 7th.
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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