Curbstone Financial Management Corp trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,050 shares of the business services provider’s stock after selling 146 shares during the period. Curbstone Financial Management Corp’s holdings in Automatic Data Processing were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Ten Capital Wealth Advisors LLC grew its stake in Automatic Data Processing by 110.7% in the 1st quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Automatic Data Processing in the 1st quarter valued at about $28,000. Coppell Advisory Solutions Corp. purchased a new position in Automatic Data Processing in the 4th quarter valued at about $33,000. Arlington Partners LLC purchased a new position in Automatic Data Processing in the 1st quarter valued at about $36,000. Finally, Rebalance LLC purchased a new position in Automatic Data Processing in the 4th quarter valued at about $39,000. 79.37% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Automatic Data Processing
In other Automatic Data Processing news, VP Michael A. Bonarti sold 7,049 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $254.75, for a total value of $1,795,732.75. Following the completion of the sale, the vice president now owns 67,044 shares of the company’s stock, valued at $17,079,459. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.
Automatic Data Processing Trading Up 0.4 %
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the firm posted $1.50 earnings per share. Automatic Data Processing’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.
Automatic Data Processing Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a $1.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $5.00 annualized dividend and a yield of 1.96%. Automatic Data Processing’s payout ratio is 60.98%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on ADP. Robert W. Baird upped their target price on shares of Automatic Data Processing from $235.00 to $270.00 in a report on Thursday, July 27th. Barclays upped their target price on shares of Automatic Data Processing from $275.00 to $285.00 in a report on Friday, July 28th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $240.00 to $260.00 in a report on Thursday, July 27th. Finally, UBS Group initiated coverage on shares of Automatic Data Processing in a report on Friday, June 2nd. They set a “neutral” rating and a $230.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $248.23.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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