NTV Asset Management LLC Has $1,074,000 Position in Automatic Data Processing (ADP)

NTV Asset Management LLC Has $1,074,000 Position in Automatic Data Processing (ADP)

NTV Asset Management LLC continued to hold its stake in shares of Automatic Data Processing (NYSE:ADP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,184 shares of the company’s stock at the end of the third quarter. NTV Asset Management LLC’s holdings in Automatic Data Processing were worth $1,074,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ADP. BlackRock Fund Advisors boosted its stake in shares of Automatic Data Processing by 7.9% in the second quarter. BlackRock Fund Advisors now owns 8,269,243 shares of the company’s stock worth $759,695,000 after buying an additional 608,214 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Automatic Data Processing by 6.5% in the third quarter. Wells Fargo & Company MN now owns 6,752,946 shares of the company’s stock worth $595,609,000 after buying an additional 410,986 shares during the period. BlackRock Group LTD boosted its stake in shares of Automatic Data Processing by 4.5% in the second quarter. BlackRock Group LTD now owns 5,759,609 shares of the company’s stock worth $529,136,000 after buying an additional 248,856 shares during the period. Capital International Investors boosted its stake in shares of Automatic Data Processing by 9.9% in the second quarter. Capital International Investors now owns 4,995,800 shares of the company’s stock worth $458,964,000 after buying an additional 448,000 shares during the period. Finally, Polen Capital Management LLC boosted its stake in shares of Automatic Data Processing by 11.5% in the second quarter. Polen Capital Management LLC now owns 4,362,933 shares of the company’s stock worth $400,823,000 after buying an additional 450,019 shares during the period.

Automatic Data Processing (NYSE:ADP) opened at 96.87 on Friday. The company’s 50 day moving average price is $102.09 and its 200-day moving average price is $93.41. The stock has a market capitalization of $43.41 billion and a PE ratio of 25.96. Automatic Data Processing has a one year low of $78.98 and a one year high of $104.09.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Wednesday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $3.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, March 8th.

ADP has been the topic of several recent analyst reports. Barclays PLC initiated coverage on Automatic Data Processing in a report on Tuesday, December 20th. They issued an “overweight” rating and a $115.00 price target on the stock. RBC Capital Markets reaffirmed a “hold” rating and issued a $99.00 price target on shares of Automatic Data Processing in a report on Friday, January 20th. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Monday, January 30th. Goldman Sachs Group, Inc. (The) raised Automatic Data Processing from a “neutral” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Friday, December 16th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Automatic Data Processing in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.36.

In other Automatic Data Processing news, insider Jan Siegmund sold 11,376 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 63,569 shares of the company’s stock, valued at $6,293,331. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Perrotti sold 2,495 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were 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 121,765 shares of company stock valued at $12,135,254 in the last three months.

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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