Waldron Private Wealth LLC Increases Stock Position in Automatic Data Processing (NASDAQ:ADP)

Share on StockTwits

Waldron Private Wealth LLC raised its position in shares of Automatic Data Processing (NASDAQ:ADP) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,693 shares of the business services provider’s stock after buying an additional 250 shares during the period. Waldron Private Wealth LLC’s holdings in Automatic Data Processing were worth $447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADP. Northern Trust Corp lifted its position in shares of Automatic Data Processing by 1.3% in the 1st quarter. Northern Trust Corp now owns 6,692,907 shares of the business services provider’s stock worth $1,069,125,000 after purchasing an additional 86,449 shares during the period. Geode Capital Management LLC lifted its position in shares of Automatic Data Processing by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after purchasing an additional 496,843 shares during the period. Fundsmith LLP lifted its position in shares of Automatic Data Processing by 1.1% in the 1st quarter. Fundsmith LLP now owns 5,994,171 shares of the business services provider’s stock worth $957,509,000 after purchasing an additional 66,480 shares during the period. Ronna Sue Cohen lifted its position in shares of Automatic Data Processing by 15,564.1% in the 1st quarter. Ronna Sue Cohen now owns 3,468,349 shares of the business services provider’s stock worth $3,468,000 after purchasing an additional 3,446,207 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Automatic Data Processing by 9.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,139,022 shares of the business services provider’s stock worth $341,692,000 after purchasing an additional 184,671 shares during the period. 80.23% of the stock is owned by institutional investors and hedge funds.

NASDAQ ADP traded down $4.02 during trading hours on Wednesday, reaching $164.69. 27,731 shares of the company’s stock traded hands, compared to its average volume of 1,979,705. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $172.00. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.10 and a beta of 0.91. The business’s 50-day simple moving average is $165.74. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company posted $0.99 EPS. Automatic Data Processing’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.92%. Automatic Data Processing’s dividend payout ratio (DPR) is 57.98%.

Several research firms have recently commented on ADP. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a research report on Friday, June 21st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Citigroup raised their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $174.11.

In related news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the sale, the vice president now directly owns 14,896 shares in the company, valued at $2,413,747.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Read More: Stock Symbols, CUSIP and Other Stock Identifiers

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Peabody Energy Co.  to Issue Dividend Increase – $0.15 Per Share
Peabody Energy Co. to Issue Dividend Increase – $0.15 Per Share
Dillard’s  PT Lowered to $37.00 at JPMorgan Chase & Co.
Dillard’s PT Lowered to $37.00 at JPMorgan Chase & Co.
Morgan Stanley Cuts CMS Energy  Price Target to $59.00
Morgan Stanley Cuts CMS Energy Price Target to $59.00
Zacks Investment Research Lowers RANDSTAD HLDG N/ADR  to Sell
Zacks Investment Research Lowers RANDSTAD HLDG N/ADR to Sell
MediciNova  Cut to Strong Sell at BidaskClub
MediciNova Cut to Strong Sell at BidaskClub
Westinghouse Air Brake Technologies  Downgraded by ValuEngine
Westinghouse Air Brake Technologies Downgraded by ValuEngine


 
© 2006-2019 Zolmax.