Todays Report: Today, 7,424 Shares of Automatic Data Processing (ADP) are sold by Amica Pension Fund Board of Trustees

Today, 7,424 Shares of Automatic Data Processing (ADP) are sold by Amica Pension Fund Board of Trustees

Amica Pension Fund Board of Trustees cut its position in shares of Automatic Data Processing (NYSE:ADP) by 30.0% during the third quarter, Holdings Channel reports. The institutional investor owned 17,342 shares of the company’s stock after selling 7,424 shares during the period. Amica Pension Fund Board of Trustees’ holdings in Automatic Data Processing were worth $1,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD raised its position in Automatic Data Processing by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 131,816 shares of the company’s stock worth $12,109,000 after buying an additional 357 shares in the last quarter. Putnam FL Investment Management Co. increased its stake in shares of Automatic Data Processing by 0.9% in the second quarter. Putnam FL Investment Management Co. now owns 7,870 shares of the company’s stock valued at $723,000 after buying an additional 73 shares during the last quarter. Westpac Banking Corp increased its stake in shares of Automatic Data Processing by 28.6% in the second quarter. Westpac Banking Corp now owns 26,486 shares of the company’s stock valued at $2,433,000 after buying an additional 5,892 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Automatic Data Processing by 4.1% in the second quarter. Blair William & Co. IL now owns 448,822 shares of the company’s stock valued at $41,233,000 after buying an additional 17,684 shares during the last quarter. Finally, Fundsmith LLP increased its stake in shares of Automatic Data Processing by 15.1% in the second quarter. Fundsmith LLP now owns 3,336,791 shares of the company’s stock valued at $306,551,000 after buying an additional 437,236 shares during the last quarter.

Automatic Data Processing (NYSE:ADP) traded up 0.28% during mid-day trading on Friday, reaching $96.92. 724,798 shares of the company were exchanged. The company’s 50 day moving average price is $89.50 and its 200-day moving average price is $89.42. The stock has a market capitalization of $43.73 billion and a P/E ratio of 29.00. Automatic Data Processing has a 12 month low of $76.65 and a 12 month high of $97.43.

Automatic Data Processing (NYSE:ADP) last issued its earnings results on Wednesday, November 2nd. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.10. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. On average, equities analysts expect that Automatic Data Processing will post $3.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, December 7th.

Several brokerages have recently weighed in on ADP. BMO Capital Markets reaffirmed a “hold” rating on shares of Automatic Data Processing in a report on Thursday, November 3rd. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Wedbush began coverage on shares of Automatic Data Processing in a report on Thursday, September 8th. They issued a “neutral” rating and a $100.00 target price on the stock. Jefferies Group lifted their target price on shares of Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a report on Monday, August 1st. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $93.00 target price on shares of Automatic Data Processing in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $95.14.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 10,000 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $89.91, for a total transaction of $899,100.00. Following the sale, the chief executive officer now directly owns 119,877 shares of the company’s stock, valued at $10,778,141.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael A. Bonarti sold 4,840 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $89.72, for a total transaction of $434,244.80. Following the sale, the insider now directly owns 41,746 shares in the company, valued at $3,745,451.12. The disclosure for this sale can be found here.

Automatic Data Processing Company Profile

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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