Latest Stocks: WASHINGTON TRUST Co Lowers Position in Automatic Data Processing (ADP)

Latest Stocks: WASHINGTON TRUST Co Lowers Position in Automatic Data Processing (ADP)

WASHINGTON TRUST Co decreased its stake in Automatic Data Processing (NYSE:ADP) by 0.6% during the first quarter, Holdings Channel reports. The fund owned 99,508 shares of the business services provider’s stock after selling 603 shares during the period. WASHINGTON TRUST Co’s holdings in Automatic Data Processing were worth $10,188,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. America First Investment Advisors LLC increased its position in shares of Automatic Data Processing by 3.1% in the third quarter. America First Investment Advisors LLC now owns 120,552 shares of the business services provider’s stock valued at $10,633,000 after buying an additional 3,649 shares during the last quarter. Argent Trust Co increased its position in Automatic Data Processing by 0.8% in the third quarter. Argent Trust Co now owns 6,672 shares of the business services provider’s stock valued at $589,000 after buying an additional 56 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in Automatic Data Processing by 3.9% in the third quarter. Ropes Wealth Advisors LLC now owns 36,358 shares of the business services provider’s stock valued at $3,207,000 after buying an additional 1,365 shares in the last quarter. Bar Harbor Trust Services increased its position in Automatic Data Processing by 3.2% in the third quarter. Bar Harbor Trust Services now owns 6,865 shares of the business services provider’s stock valued at $605,000 after buying an additional 210 shares in the last quarter. Finally, Mcdaniel Terry & Co. increased its position in Automatic Data Processing by 1.0% in the third quarter. Mcdaniel Terry & Co. now owns 216,952 shares of the business services provider’s stock valued at $19,135,000 after buying an additional 2,218 shares in the last quarter.

Shares of Automatic Data Processing (NYSE ADP) opened at 101.10 on Tuesday. The company has a market capitalization of $45.23 billion and a PE ratio of 26.16. Automatic Data Processing has a one year low of $85.23 and a one year high of $105.68. The company has a 50-day moving average price of $100.71 and a 200 day moving average price of $100.96.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.08. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Equities analysts anticipate that Automatic Data Processing will post $3.72 EPS for the current year.

ADP has been the subject of several recent research reports. Argus lowered their price objective on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research note on Wednesday, May 31st. William Blair reaffirmed an “outperform” rating on shares of Automatic Data Processing in a research note on Tuesday, February 7th. Evercore ISI downgraded 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 note on Friday. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $98.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, April 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $100.13. In other news, VP Thomas J. Perrotti sold 2,868 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $105.02, for a total transaction of $301,197.36. Following the transaction, the vice president now directly owns 15,371 shares of the company’s stock, valued at $1,614,262.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael C. Eberhard sold 7,463 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $105.00, for a total value of $783,615.00. Following the transaction, the insider now directly owns 34,129 shares in the company, valued at $3,583,545. The disclosure for this sale can be found here. Insiders sold a total of 59,723 shares of company stock worth $6,024,506 over the last ninety days.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).

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