Sicart Associates LLC Continues to Hold Position in Automatic Data Processing (ADP)

Sicart Associates LLC continued to hold its stake in Automatic Data Processing (NYSE:ADP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,500 shares of the business services provider’s stock at the end of the 2nd quarter. Sicart Associates LLC’s holdings in Automatic Data Processing were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Grisanti Capital Management LLC grew its stake in shares of Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after acquiring an additional 45 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Automatic Data Processing in the first quarter worth $113,000. Grove Bank & Trust grew its stake in shares of Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. grew its stake in shares of Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares in the last quarter.

Several research firms have commented on ADP. Royal Bank Of Canada restated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research note on Friday, September 15th. BMO Capital Markets restated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Robert W. Baird reiterated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $107.29.

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Shares of Automatic Data Processing (NYSE:ADP) opened at 113.59 on Friday. The stock has a market capitalization of $50.48 billion and a PE ratio of 29.50. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock has a 50 day moving average of $108.59 and a 200-day moving average of $104.64.

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

The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, September 7th.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here. Insiders have sold a total of 40,657 shares of company stock valued at $4,457,476 over the last three months.

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.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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