Crawford Investment Counsel Inc. Has $822,000 Stake in Automatic Data Processing (ADP)

Crawford Investment Counsel Inc. reduced its position in Automatic Data Processing (NYSE:ADP) by 3.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,031 shares of the business services provider’s stock after selling 272 shares during the period. Crawford Investment Counsel Inc.’s holdings in Automatic Data Processing were worth $822,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Middleton & Co Inc MA boosted its stake in shares of Automatic Data Processing by 0.4% in the first quarter. Middleton & Co Inc MA now owns 5,306 shares of the business services provider’s stock worth $543,000 after buying an additional 20 shares in the last quarter. Moloney Securities Asset Management LLC boosted its stake in shares of Automatic Data Processing by 0.5% in the first quarter. Moloney Securities Asset Management LLC now owns 5,777 shares of the business services provider’s stock worth $592,000 after buying an additional 28 shares in the last quarter. Cypress Capital Management LLC boosted its stake in shares of Automatic Data Processing by 0.8% in the first quarter. Cypress Capital Management LLC now owns 4,186 shares of the business services provider’s stock worth $429,000 after buying an additional 33 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Automatic Data Processing by 1.1% in the first quarter. Brookstone Capital Management now owns 3,199 shares of the business services provider’s stock worth $328,000 after buying an additional 35 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in shares of Automatic Data Processing by 3.1% in the fourth quarter. Zions Bancorporation now owns 1,224 shares of the business services provider’s stock worth $126,000 after buying an additional 37 shares in the last quarter.

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

Automatic Data Processing (NYSE:ADP) opened at 101.41 on Monday. The company’s 50-day moving average price is $100.16 and its 200 day moving average price is $101.39. The company has a market capitalization of $45.37 billion and a price-to-earnings ratio of 26.24. Automatic Data Processing has a 52 week low of $85.23 and a 52 week high of $105.68.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.08. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.42 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $1.17 earnings per share. On average, analysts predict that Automatic Data Processing will post $3.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.28 annualized dividend and a yield of 2.25%.

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A number of analysts have weighed in on the company. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. BMO Capital Markets reissued a “hold” rating and set a $98.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, April 5th. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. Evercore ISI reissued an “underperform” rating and set a $85.00 price objective on shares of Automatic Data Processing in a research report on Friday, June 2nd. Finally, Argus cut their price objective on 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $99.73.

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the transaction, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

About Automatic Data Processing

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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