Creative Planning boosted its position in Automatic Data Processing (NYSE:ADP) by 15.6% during the third quarter, Holdings Channel reports. The firm owned 37,918 shares of the company’s stock after buying an additional 5,110 shares during the period. Creative Planning’s holdings in Automatic Data Processing were worth $3,344,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation increased its stake in Automatic Data Processing by 228.5% in the second quarter. Zions Bancorporation now owns 1,189 shares of the company’s stock worth $110,000 after buying an additional 827 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of Automatic Data Processing by 406.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,246 shares of the company’s stock worth $114,000 after buying an additional 1,000 shares during the period. Hanson McClain Inc. increased its stake in shares of Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock worth $118,000 after buying an additional 25 shares during the period. Pinkerton Retirement Specialists LLC bought a new stake in shares of Automatic Data Processing during the second quarter worth approximately $133,000. Finally, Kleinwort Benson Investors Dublin Ltd bought a new stake in shares of Automatic Data Processing during the second quarter worth approximately $202,000.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.28% during mid-day trading on Friday, reaching $96.92. 724,798 shares of the company’s stock traded hands. Automatic Data Processing has a 52 week low of $76.65 and a 52 week high of $97.43. The company’s 50 day moving average is $89.82 and its 200-day moving average is $89.49. The firm has a market cap of $43727.69 billion and a price-to-earnings ratio of 29.02.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. Equities analysts expect that Automatic Data Processing will post $3.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be issued a dividend of $0.57 per share. This is a positive change 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 dividend yield of 2.35%.
A number of equities research analysts have recently commented on the company. BMO Capital Markets reiterated a “hold” rating on shares of Automatic Data Processing in a research report on Thursday, November 3rd. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Jefferies Group increased their price objective on Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research report on Monday, August 1st. Finally, Wedbush assumed coverage on Automatic Data Processing in a research report on Thursday, September 8th. They set a “neutral” rating and a $100.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $95.14.
In other news, CEO Carlos A. Rodriguez sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 119,877 shares of the company’s stock, valued at $10,778,141.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Maria Black sold 527 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $90.00, for a total transaction of $47,430.00. Following the sale, the vice president now directly owns 7,836 shares of the company’s stock, valued at approximately $705,240. 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.