The Pekin Singer Strauss Asset Management IL Lowers Position in Automatic Data Processing (ADP)

The Pekin Singer Strauss Asset Management IL Lowers Position in Automatic Data Processing (ADP)

Pekin Singer Strauss Asset Management IL cut its stake in Automatic Data Processing (NYSE:ADP) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,300 shares of the company’s stock after selling 300 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Automatic Data Processing were worth $291,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in ADP. Huntington National Bank raised its stake in Automatic Data Processing by 55.0% in the third quarter. Huntington National Bank now owns 436,985 shares of the company’s stock valued at $38,543,000 after buying an additional 155,112 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Automatic Data Processing during the third quarter valued at about $314,000. Roof Eidam & Maycock ADV raised its stake in Automatic Data Processing by 4.3% in the third quarter. Roof Eidam & Maycock ADV now owns 18,350 shares of the company’s stock valued at $1,618,000 after buying an additional 760 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Automatic Data Processing by 9.5% in the third quarter. Advisors Asset Management Inc. now owns 150,727 shares of the company’s stock valued at $13,294,000 after buying an additional 13,032 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Automatic Data Processing by 5.6% in the third quarter. Tocqueville Asset Management L.P. now owns 377,713 shares of the company’s stock valued at $33,314,000 after buying an additional 20,151 shares in the last quarter.

Shares of Automatic Data Processing (NYSE:ADP) traded up 0.26% during midday trading on Friday, reaching $103.24. 1,653,207 shares of the company’s stock were exchanged. Automatic Data Processing has a one year low of $78.98 and a one year high of $104.09. The company’s 50-day moving average is $101.21 and its 200-day moving average is $92.99. The stock has a market cap of $46579.11 billion and a P/E ratio of 30.91.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Wednesday, November 2nd. The company reported $0.86 EPS for the quarter, topping the Zacks’ 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. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing will post $3.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th 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 2.21%. The ex-dividend date is Wednesday, March 8th.

Several equities research analysts recently issued reports on the stock. RBC Capital Markets reissued a “hold” rating and issued a $99.00 target price on shares of Automatic Data Processing in a report on Friday. Barclays PLC assumed coverage on shares of Automatic Data Processing in a report on Tuesday, December 20th. They issued an “overweight” rating and a $115.00 target price for the company. Goldman Sachs Group Inc. raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and set a $114.00 target price for the company in a report on Friday, December 16th. BMO Capital Markets reissued a “hold” rating on shares of Automatic Data Processing in a report on Thursday, November 3rd. Finally, Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $99.40.

In related news, insider Jan Siegmund sold 4,266 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $102.38, for a total transaction of $436,753.08. Following the completion of the sale, the insider now owns 52,321 shares of the company’s stock, valued at $5,356,623.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas J. Perrotti sold 2,495 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $102.38, for a total value of $255,438.10. Following the sale, the vice president now directly owns 14,295 shares of the company’s stock, valued at approximately $1,463,522.10. The disclosure for this sale can be found here. Insiders have sold 32,129 shares of company stock valued at $3,222,093 in the last ninety days.

About Automatic Data Processing

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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