Atria Investments LLC Has $2.34 Million Holdings in Automatic Data Processing (ADP)

Atria Investments LLC grew its position in shares of Automatic Data Processing (NYSE:ADP) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,843 shares of the business services provider’s stock after purchasing an additional 1,028 shares during the period. Atria Investments LLC’s holdings in Automatic Data Processing were worth $2,340,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Coconut Grove Bank raised its holdings in Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after buying an additional 460 shares during the period. Grisanti Capital Management LLC raised its holdings in 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 valued at $107,000 after buying an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Automatic Data Processing in the first quarter valued at approximately $113,000. Harbour Capital Advisors LLC purchased a new position in Automatic Data Processing in the first quarter valued at approximately $176,000. Finally, Guardian Life Insurance Co. of America raised its holdings in Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after buying an additional 12 shares during the period.

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In other news, insider Michael A. Bonarti sold 2,932 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the sale, the insider now directly owns 46,256 shares in the company, valued at $4,717,186.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares in the company, valued at $16,114,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,522 shares of company stock worth $4,953,609.

Several research firms recently 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 report on Friday. BMO Capital Markets restated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Evercore ISI downgraded shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $107.81.

Automatic Data Processing (NYSE:ADP) traded down 0.01% during trading on Friday, reaching $106.78. 3,116,724 shares of the company’s stock were exchanged. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company has a market capitalization of $47.45 billion and a price-to-earnings ratio of 27.74. The stock’s 50-day moving average price is $108.51 and its 200-day moving average price is $103.81.

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

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.14%.

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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