Automatic Data Processing (ADP) Shares Sold by Aull & Monroe Investment Management Corp

Aull & Monroe Investment Management Corp reduced its position in Automatic Data Processing (NYSE:ADP) by 1.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 33,195 shares of the business services provider’s stock after selling 325 shares during the period. Automatic Data Processing comprises about 1.8% of Aull & Monroe Investment Management Corp’s investment portfolio, making the stock its 15th largest position. Aull & Monroe Investment Management Corp’s holdings in Automatic Data Processing were worth $3,399,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in ADP. Zions Bancorporation raised its stake in Automatic Data Processing by 3.1% in the fourth quarter. Zions Bancorporation now owns 1,224 shares of the business services provider’s stock valued at $126,000 after buying an additional 37 shares during the last quarter. TLP Group LLC purchased a new stake in Automatic Data Processing during the third quarter valued at about $129,000. Massmutual Trust Co. FSB ADV purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $132,000. Sowell Financial Services LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $180,000. Finally, Ibex Wealth Advisors purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $197,000.

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

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.08. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.42 billion. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, June 7th.

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A number of brokerages have issued reports on ADP. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $98.00 price objective on shares of Automatic Data Processing in a report on Wednesday, April 5th. William Blair reiterated an “outperform” rating on shares of Automatic Data Processing in a research report on Tuesday, February 7th. Stifel Nicolaus increased their target price on Automatic Data Processing from $95.00 to $105.00 and gave the company a “hold” rating in a research report on Monday, January 30th. Finally, Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $102.39.

In other Automatic Data Processing news, Director John P. Jones III sold 5,688 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $104.46, for a total transaction of $594,168.48. Following the transaction, the director now owns 49,611 shares in the company, valued at $5,182,365.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael C. Eberhard sold 7,463 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $105.00, for a total value of $783,615.00. Following the completion of the transaction, the insider now owns 34,129 shares in the company, valued at approximately $3,583,545. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,519 shares of company stock worth $1,731,481.

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.

12 Month Chart for NYSE:ADP

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