Rothschild Asset Management Inc. Acquires 584 Shares of Automatic Data Processing (ADP)

Rothschild Asset Management Inc. raised its holdings in Automatic Data Processing (NYSE:ADP) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,202 shares of the business services provider’s stock after buying an additional 584 shares during the period. Rothschild Asset Management Inc.’s holdings in Automatic Data Processing were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ADP. BlackRock Inc. boosted its position in Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the period. Vanguard Group Inc. boosted its position in Automatic Data Processing by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after buying an additional 1,430,863 shares during the period. American Century Companies Inc. lifted its position in shares of Automatic Data Processing by 51.1% during the 1st quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after purchasing an additional 912,528 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Automatic Data Processing by 59.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock worth $180,972,000 after purchasing an additional 657,209 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Automatic Data Processing during the 1st quarter worth $53,405,000.

Shares of Automatic Data Processing (NYSE ADP) opened at 107.48 on Wednesday. The stock has a market capitalization of $47.76 billion and a PE ratio of 27.92. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The company has a 50-day moving average of $107.88 and a 200-day moving average of $103.85.

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

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.12%.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $197,127.34. Following the transaction, the vice president now directly owns 25,737 shares in the company, valued at approximately $2,624,659.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the stock in a transaction on 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 transaction, 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. Insiders have sold a total of 45,522 shares of company stock worth $4,953,609 over the last quarter.

Several research firms have recently issued reports on ADP. Royal Bank of Canada reaffirmed a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. Deutsche Bank AG reaffirmed a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a research report on Sunday, August 20th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $107.81.

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Automatic Data Processing Company 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.

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

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