Automatic Data Processing (ADP) Shares Bought by CenturyLink Investment Management Co

CenturyLink Investment Management Co lifted its stake in shares of Automatic Data Processing (NYSE:ADP) by 77.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,120 shares of the business services provider’s stock after purchasing an additional 3,102 shares during the period. CenturyLink Investment Management Co’s holdings in Automatic Data Processing were worth $730,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ADP. K.J. Harrison & Partners Inc increased its stake in shares of Automatic Data Processing by 223.2% during the 1st quarter. K.J. Harrison & Partners Inc now owns 12,800 shares of the business services provider’s stock worth $1,311,000 after purchasing an additional 8,840 shares during the last quarter. Kanawha Capital Management LLC increased its stake in shares of Automatic Data Processing by 3.2% during the 1st quarter. Kanawha Capital Management LLC now owns 115,201 shares of the business services provider’s stock worth $11,795,000 after purchasing an additional 3,578 shares during the last quarter. Investment Counsel Inc. increased its stake in shares of Automatic Data Processing by 1.7% during the 1st quarter. Investment Counsel Inc. now owns 27,528 shares of the business services provider’s stock worth $2,819,000 after purchasing an additional 450 shares during the last quarter. Everett Harris & Co. CA increased its stake in shares of Automatic Data Processing by 6.1% during the 1st quarter. Everett Harris & Co. CA now owns 2,505 shares of the business services provider’s stock worth $256,000 after purchasing an additional 144 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Automatic Data Processing by 7.7% during the 1st quarter. Russell Investments Group Ltd. now owns 622,895 shares of the business services provider’s stock worth $63,791,000 after purchasing an additional 44,294 shares during the last quarter.

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Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Robert W. Baird restated a “neutral” rating and set a $95.00 price target on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $105.00 price target (up previously from $100.00) on shares of Automatic Data Processing in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $107.81.

Shares of Automatic Data Processing (NYSE:ADP) traded down 0.01% on Friday, reaching $106.78. 3,116,724 shares of the company’s stock traded hands. The firm’s 50-day moving average is $108.51 and its 200-day moving average is $103.81. 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 $47.45 billion and a price-to-earnings ratio of 27.74.

Automatic Data Processing (NYSE:ADP) last announced its earnings results 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 business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued 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 2.14%.

In other Automatic Data Processing news, VP Maria Black sold 631 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. 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 company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,522 shares of company stock valued at $4,953,609.

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

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