Trust Co. of Oklahoma grew its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 175.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,394 shares of the business services provider’s stock after acquiring an additional 2,800 shares during the period. Trust Co. of Oklahoma’s holdings in Automatic Data Processing were worth $662,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Atlantic Trust LLC acquired a new position in Automatic Data Processing during the 2nd quarter worth $104,000. Integrated Investment Consultants LLC acquired a new position in Automatic Data Processing during the 2nd quarter worth $111,000. Jolley Asset Management LLC acquired a new position in Automatic Data Processing during the 2nd quarter worth $117,000. Fort L.P. acquired a new position in Automatic Data Processing during the 2nd quarter worth $119,000. Finally, Kaizen Advisory LLC lifted its position in Automatic Data Processing by 149.7% during the 2nd quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock worth $145,000 after acquiring an additional 648 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.
In related news, insider Michael A. Bonarti sold 2,334 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $144.77, for a total value of $337,893.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael C. Eberhard sold 9,100 shares of the stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the transaction, the vice president now directly owns 48,468 shares of the company’s stock, valued at approximately $7,270,200. The disclosure for this sale can be found here. Insiders sold 15,919 shares of company stock valued at $2,351,933 in the last three months. Company insiders own 0.33% of the company’s stock.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing will post 5.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.45%.
A number of research analysts have recently commented on ADP shares. Wolfe Research started coverage on shares of Automatic Data Processing in a research report on Tuesday, July 17th. They set an “outperform” rating for the company. Credit Suisse Group started coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 price objective for the company. Moffett Nathanson started coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 price objective for the company. Jefferies Financial Group started coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They set a “hold” rating and a $160.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $144.47.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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