Automatic Data Processing's (ADP) Hold Rating Reiterated at Royal Bank Of Canada

Marco Green
September 27, 2017

Zions Bancorporation now owns 1,224 shares of the company's stock worth $126,000 after buying an additional 37 shares during the period. BlackRock Inc. grew its position in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. CA increased its position in Automatic Data Processing by 6.1% 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 buying an additional 44,294 shares during the last quarter. TLP Group LLC bought a new position in Automatic Data Processing during the third quarter worth $129,000. Leavell Investment Management Inc. now owns 32,949 shares of the business services provider's stock worth $3,374,000 after buying an additional 500 shares during the last quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider's stock valued at $639,992,000 after buying an additional 479,558 shares during the last quarter.

Insider trading over the last 12 months, however, paints a different picture.

Alliancebernstein Lp decreased its stake in Automatic Data Processing In (ADP) by 2.07% based on its latest 2017Q2 regulatory filing with the SEC. 769,534 shares of the stock traded hands. The company has market cap of $3.07 billion. One of the more popular combinations is to use the 50-day and 200-day moving averages. Charter Trust Company who had been investing in Automatic Data Processing Inc for a number of months, seems to be less bullish one the $48.17 billion market cap company.

Automatic Data Processing (NYSE:ADP) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.02). The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Finally, Cornerstone Advisors Inc. raised its position in Automatic Data Processing by 42.7% in the third quarter.

Looking forward, the company's quarterly earnings are expected to come at $1 in the three months through October 2017 and $1.27 in the quarter ending January 2018, reflecting 9.89% and 23.3% growth, respectively.

On a similar note, analysts expect EPS of $0.85 in September 2017 quarter and $0.9 in December 2017 quarter, representing -1.16% and 3.45% growth, respectively. For the full year, analysts expect earnings to jump 11.33% yoy to $3.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, September 8th will be issued a $0.57 dividend. (ADP) Ex-Dividend Date Scheduled for September ..." on September 06, 2017, also Seekingalpha.com with their article: "Automatic Data Processing Is A Typical Wonderful Business" published on August 30, 2017, Seekingalpha.com published: "ADP: "Consistent Earner" on September 25, 2017. If you are reading this news story on another domain, it was illegally copied and republished in violation of USA & worldwide trademark and copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2017/09/26/automatic-data-processing-adp-holdings-raised-by-k-j-harrison-partners-inc.html. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company's stock.

Returns and Valuations for Automatic Data Processing, Inc. Argus dropped their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a "buy" rating for the company in a research report on Wednesday, May 31st. RBC Capital Markets maintained the shares of ADP in report on Monday, May 2 with "Sector Perform" rating. Finally, Citigroup Inc. reaffirmed a "neutral" rating and issued a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. Alliancebernstein Lp sold 172,954 shares as the company's stock declined 1.06% while stock markets rallied. Prentiss Smith & Com Inc has invested 0.33% in Automatic Data Processing (NASDAQ:ADP). In the previous year there have been a total of 86 insider trades, including 34 open market buys and 52 sells. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael A. Bonarti sold 2,932 shares of the firm's stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the transaction, the chief executive officer now directly owns 156,085 shares of the company's stock, valued at approximately $15,444,610.75. The disclosure for this sale can be found here.

Other reports by Click Lancashire

Discuss This Article

FOLLOW OUR NEWSPAPER