Automatic Data Processing (ADP) Stake Raised by South Texas Money Management Ltd.

Automatic Data Processing (ADP) Stake Raised by South Texas Money Management Ltd.

South Texas Money Management Ltd. raised its position in Automatic Data Processing (NYSE:ADP) by 5.9% during the third quarter, Holdings Channel reports. The institutional investor owned 2,928 shares of the company’s stock after buying an additional 164 shares during the period. South Texas Money Management Ltd.’s holdings in Automatic Data Processing were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Automatic Data Processing by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 131,816 shares of the company’s stock worth $12,109,000 after buying an additional 357 shares in the last quarter. Putnam FL Investment Management Co. raised its stake in Automatic Data Processing by 0.9% in the second quarter. Putnam FL Investment Management Co. now owns 7,870 shares of the company’s stock valued at $723,000 after buying an additional 73 shares during the period. Fundsmith LLP raised its stake in Automatic Data Processing by 15.1% in the second quarter. Fundsmith LLP now owns 3,336,791 shares of the company’s stock valued at $306,551,000 after buying an additional 437,236 shares during the period. Blair William & Co. IL raised its stake in Automatic Data Processing by 4.1% in the second quarter. Blair William & Co. IL now owns 448,822 shares of the company’s stock valued at $41,233,000 after buying an additional 17,684 shares during the period. Finally, Ngam Advisors L.P. raised its stake in Automatic Data Processing by 4.6% in the second quarter. Ngam Advisors L.P. now owns 218,808 shares of the company’s stock valued at $20,102,000 after buying an additional 9,677 shares during the period.

Automatic Data Processing (NYSE:ADP) opened at 101.71 on Friday. The stock has a market capitalization of $45.89 billion and a P/E ratio of 30.43. The stock has a 50 day moving average price of $102.08 and a 200-day moving average price of $93.29. Automatic Data Processing has a 12-month low of $78.98 and a 12-month high of $104.09.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the 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 quarter last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing will post $3.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, March 8th.

Several research firms have weighed in on ADP. 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, January 20th. Barclays PLC began coverage on Automatic Data Processing in a report on Tuesday, December 20th. They issued an “overweight” rating and a $115.00 target price on the stock. Goldman Sachs Group, Inc. (The) raised Automatic Data Processing from a “neutral” rating to a “buy” rating and set a $114.00 target price on the stock 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 downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $99.40.

In other news, insider Jan Siegmund sold 11,376 shares of Automatic Data Processing stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $99.00, for a total transaction of $1,126,224.00. Following the transaction, the insider now directly owns 63,569 shares in the company, valued at approximately $6,293,331. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brock Albinson sold 1,051 shares of Automatic Data Processing stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $102.81, for a total value of $108,053.31. Following the transaction, the vice president now owns 5,049 shares in the company, valued at $519,087.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,216 shares of company stock worth $5,711,838.

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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