Marble Harbor Investment Counsel LLC Buys 280 Shares of Automatic Data Processing (ADP)
Marble Harbor Investment Counsel LLC boosted its position in shares of Automatic Data Processing (NYSE:ADP) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 156,878 shares of the company’s stock after buying an additional 280 shares during the period. Automatic Data Processing comprises about 3.3% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 4th largest position. Marble Harbor Investment Counsel LLC’s holdings in Automatic Data Processing were worth $13,837,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation boosted its stake in Automatic Data Processing by 228.5% in the second quarter. Zions Bancorporation now owns 1,189 shares of the company’s stock worth $110,000 after buying an additional 827 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Automatic Data Processing by 406.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,246 shares of the company’s stock worth $114,000 after buying an additional 1,000 shares in the last quarter. Hanson McClain Inc. boosted its stake in Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock worth $118,000 after buying an additional 25 shares in the last quarter. Peddock Capital Advisors LLC bought a new stake in Automatic Data Processing during the third quarter worth approximately $128,000. Finally, Pinkerton Retirement Specialists LLC bought a new stake in Automatic Data Processing during the second quarter worth approximately $133,000.
Shares of Automatic Data Processing (NYSE:ADP) traded down 0.3361% during mid-day trading on Wednesday, reaching $96.7139. 477,667 shares of the company traded hands. The company has a market capitalization of $43.63 billion and a P/E ratio of 28.9389. Automatic Data Processing has a 52 week low of $76.65 and a 52 week high of $97.54. The stock’s 50-day moving average is $90.08 and its 200-day moving average is $89.59.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Wednesday, November 2nd. The company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. The firm earned $2.90 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts predict that Automatic Data Processing will post $3.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.53.
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A number of analysts have recently commented on the stock. BMO Capital Markets reissued a “hold” rating on shares of Automatic Data Processing in a research note on Thursday, November 3rd. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Finally, Wedbush assumed coverage on shares of Automatic Data Processing in a research note on Thursday, September 8th. They set a “neutral” rating and a $100.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and an average target price of $95.14.
In related news, insider Jan Siegmund sold 6,592 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $89.20, for a total value of $588,006.40. Following the completion of the sale, the insider now owns 52,193 shares in the company, valued at $4,655,615.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael A. Bonarti sold 4,840 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $89.72, for a total transaction of $434,244.80. Following the completion of the sale, the insider now owns 41,746 shares of the company’s stock, valued at approximately $3,745,451.12. The disclosure for this sale can be found here.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
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