Thompson Rubinstein Investment Management Inc. OR Cuts Holdings in Automatic Data Processing (ADP)

Thompson Rubinstein Investment Management Inc. OR lessened its stake in Automatic Data Processing (NYSE:ADP) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,329 shares of the business services provider’s stock after selling 1,000 shares during the period. Thompson Rubinstein Investment Management Inc. OR’s holdings in Automatic Data Processing were worth $4,030,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after purchasing an additional 1,430,863 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Automatic Data Processing by 51.1% in the 1st quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock valued at $276,227,000 after purchasing an additional 912,528 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at $53,405,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after purchasing an additional 485,320 shares in the last quarter.

In related news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the sale, the chief executive officer now directly owns 146,494 shares in the company, valued at $16,114,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here. Insiders sold 45,522 shares of company stock valued at $4,953,609 over the last 90 days.

Automatic Data Processing (NYSE ADP) traded up 0.637% during midday trading on Tuesday, reaching $108.185. 873,994 shares of the company were exchanged. The company has a 50-day moving average of $108.53 and a 200 day moving average of $103.67. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm has a market capitalization of $48.07 billion and a PE ratio of 28.100.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Equities analysts predict that Automatic Data Processing will post $3.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.12%.

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A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays PLC reaffirmed an “equal weight” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada upped their price objective on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $107.81.

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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