Automatic Data Processing (NYSE:ADP) Stake Maintained by Armor Investment Advisors LLC

Armor Investment Advisors LLC continued to hold its position in Automatic Data Processing (NYSE:ADP) during the first quarter, Holdings Channel reports. The institutional investor owned 5,200 shares of the business services provider’s stock at the end of the first quarter. Armor Investment Advisors LLC’s holdings in Automatic Data Processing were worth $535,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Norges Bank acquired a new position in Automatic Data Processing during the fourth quarter worth about $338,766,000. American Century Companies Inc. increased its position in Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after buying an additional 912,528 shares during the last quarter. Congress Asset Management Co. MA acquired a new position in Automatic Data Processing during the fourth quarter worth about $55,906,000. Teachers Advisors LLC increased its position in Automatic Data Processing by 67.1% in the fourth quarter. Teachers Advisors LLC now owns 1,061,246 shares of the business services provider’s stock worth $109,075,000 after buying an additional 426,327 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in Automatic Data Processing during the first quarter worth about $43,183,000.

Shares of Automatic Data Processing (ADP) opened at 105.14 on Monday. The company has a market capitalization of $47.04 billion and a PE ratio of 27.20. The company’s 50-day moving average price is $100.83 and its 200-day moving average price is $101.57. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $105.68.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.08. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing will post $3.72 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on ADP. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $98.00 price target on shares of Automatic Data Processing in a research note on Wednesday, April 5th. Evercore ISI cut Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price target for the company. in a research note on Friday, June 2nd. Argus lowered their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research note on Wednesday, May 31st. Finally, Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $99.73.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now directly owns 159,403 shares in the company, valued at $15,941,894.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,257 shares of company stock worth $5,435,827.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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