Glynn Capital Management LLC lowered its position in shares of Automatic Data Processing (NYSE:ADP) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,130 shares of the company’s stock after selling 911 shares during the period. Glynn Capital Management LLC’s holdings in Automatic Data Processing were worth $655,000 at the end of the most recent reporting period.
Separately, Spectrum Management Group Inc. raised its position in shares of Automatic Data Processing by 283.9% in the second quarter. Spectrum Management Group Inc. now owns 8,560 shares of the company’s stock worth $786,000 after buying an additional 6,330 shares during the period.
Automatic Data Processing (NYSE:ADP) traded down 0.27% on Monday, reaching $87.32. The company had a trading volume of 380,271 shares. The company’s 50 day moving average price is $88.15 and its 200-day moving average price is $89.30. The company has a market capitalization of $39.83 billion and a price-to-earnings ratio of 26.88. Automatic Data Processing has a 12 month low of $76.65 and a 12 month high of $96.00.
Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company earned $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing will post $3.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, September 7th.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Sanford C. Bernstein raised Automatic Data Processing from a “market perform” rating to an “outperform” rating and raised their price target for the company from $97.00 to $110.00 in a report on Monday, July 11th. Robert W. Baird lowered Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price target on the stock. in a report on Friday, July 29th. Citigroup Inc. reissued a “neutral” rating and set a $90.00 price target (up from $89.00) on shares of Automatic Data Processing in a report on Friday, July 29th. Finally, Wedbush assumed coverage on Automatic Data Processing in a report on Thursday, September 8th. They set a “neutral” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $95.14.
In other news, VP Maria Black sold 527 shares of Automatic Data Processing stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $90.00, for a total transaction of $47,430.00. Following the transaction, the vice president now owns 7,836 shares in the company, valued at approximately $705,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Deborah L. Dyson sold 898 shares of Automatic Data Processing stock in a transaction on Monday, August 1st. The stock was sold at an average price of $88.06, for a total transaction of $79,077.88. Following the transaction, the vice president now owns 11,891 shares in the company, valued at approximately $1,047,121.46. The disclosure for this sale can be found here.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
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