Whalerock Point Partners LLC Holds Stake in Automatic Data Processing (ADP)
Whalerock Point Partners LLC held its position in shares of Automatic Data Processing (NYSE:ADP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,933 shares of the business services provider’s stock at the end of the 2nd quarter. Automatic Data Processing makes up 0.9% of Whalerock Point Partners LLC’s holdings, making the stock its 21st biggest position. Whalerock Point Partners LLC’s holdings in Automatic Data Processing were worth $2,350,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $113,000. Grove Bank & Trust lifted its holdings in shares of Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares during the period. Armbruster Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $176,000.
Automatic Data Processing (NYSE:ADP) opened at 115.93 on Monday. The firm’s 50-day moving average price is $110.16 and its 200 day moving average price is $105.16. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The stock has a market cap of $51.52 billion and a P/E ratio of 30.11.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. Equities analysts predict that Automatic Data Processing will post $3.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were issued a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.97%.
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Several research firms have recently commented on ADP. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Bank of America Corporation lifted their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $108.00 price objective on shares of Automatic Data Processing in a report on Wednesday, October 4th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $109.25.
In other news, VP Brock Albinson sold 3,663 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Maria Black sold 631 shares of the stock in a transaction on 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 approximately $1,125,052. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock valued at $4,457,476 in the last 90 days.
Automatic Data Processing 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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