Trade Report: Today, Capstone Asset Management Co. invests in Automatic Data Processing (ADP) Shares

Today, Capstone Asset Management Co. invests in Automatic Data Processing (ADP) Shares

Capstone Asset Management Co. raised its stake in Automatic Data Processing (NYSE:ADP) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 156,947 shares of the company’s stock after buying an additional 1,081 shares during the period. Capstone Asset Management Co.’s holdings in Automatic Data Processing were worth $13,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. Atria Investments LLC raised its stake in Automatic Data Processing by 9.6% in the third quarter. Atria Investments LLC now owns 19,755 shares of the company’s stock valued at $1,742,000 after buying an additional 1,733 shares in the last quarter. Weaver C. Barksdale & Associates Inc. raised its stake in Automatic Data Processing by 2.6% in the third quarter. Weaver C. Barksdale & Associates Inc. now owns 9,916 shares of the company’s stock valued at $875,000 after buying an additional 248 shares in the last quarter. Creative Planning raised its stake in Automatic Data Processing by 15.6% in the third quarter. Creative Planning now owns 37,918 shares of the company’s stock valued at $3,344,000 after buying an additional 5,110 shares in the last quarter. Raymond James Trust N.A. raised its stake in Automatic Data Processing by 7.3% in the third quarter. Raymond James Trust N.A. now owns 45,798 shares of the company’s stock valued at $4,040,000 after buying an additional 3,112 shares in the last quarter. Finally, Reilly Herbert Faulkner III raised its stake in Automatic Data Processing by 3.6% in the third quarter. Reilly Herbert Faulkner III now owns 46,075 shares of the company’s stock valued at $4,064,000 after buying an additional 1,602 shares in the last quarter.

Shares of Automatic Data Processing (NYSE:ADP) traded down 0.43% during mid-day trading on Monday, hitting $96.50. 1,186,191 shares of the stock traded hands. The firm has a market cap of $43.54 billion and a price-to-earnings ratio of 28.87. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $97.43. The firm’s 50 day moving average price is $89.82 and its 200 day moving average price is $89.49.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. The business earned $2.90 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post $3.66 EPS for the current fiscal year.

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

Several research firms recently commented on ADP. BMO Capital Markets restated a “hold” rating on shares of Automatic Data Processing in a research report on Thursday, November 3rd. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Wedbush began coverage on shares of Automatic Data Processing in a research report on Thursday, September 8th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Jefferies Group raised their price target on shares of Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $95.14.

In related news, insider Michael A. Bonarti sold 4,840 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $89.72, for a total value of $434,244.80. Following the completion of the sale, the insider now owns 41,746 shares in the company, valued at approximately $3,745,451.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jan Siegmund sold 6,592 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $89.20, for a total transaction of $588,006.40. Following the completion of the sale, the insider now owns 52,193 shares of the company’s stock, valued at approximately $4,655,615.60. The disclosure for this sale can be found here.

About Automatic Data Processing

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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