Automatic Data Processing, Inc. (ADP) Stake Maintained by Albion Financial Group UT
Albion Financial Group UT continued to hold its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,221 shares of the business services provider’s stock at the close of the 2nd quarter. Albion Financial Group UT’s holdings in Automatic Data Processing were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $102,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Automatic Data Processing in the first quarter worth approximately $113,000. Grove Bank & Trust lifted its stake in shares of Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $136,000. 78.41% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research firms recently commented on ADP. BMO Capital Markets reaffirmed a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Wells Fargo & Co reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Finally, Royal Bank Of Canada lifted their price objective on Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $112.37.
Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $110.21 on Friday. The firm has a market capitalization of $48,877.00, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.87. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 1-year low of $94.11 and a 1-year high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. equities analysts anticipate that Automatic Data Processing, Inc. will post 3.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be issued a $0.63 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s payout ratio is presently 58.02%.
In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
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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