Monarch Capital Management Inc. Holds Stake in Automatic Data Processing (ADP)

Monarch Capital Management Inc. held its position in Automatic Data Processing (NYSE:ADP) during the second quarter, Holdings Channel reports. The institutional investor owned 59,808 shares of the company’s stock at the end of the second quarter. Automatic Data Processing makes up approximately 2.0% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Monarch Capital Management Inc.’s holdings in Automatic Data Processing were worth $5,495,000 as of its most recent SEC filing.

Separately, Spectrum Management Group Inc. increased its position in Automatic Data Processing by 283.9% in the second quarter. Spectrum Management Group Inc. now owns 8,560 shares of the company’s stock valued at $786,000 after buying an additional 6,330 shares during the period.

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

Automatic Data Processing (NYSE:ADP) traded up 0.77% during trading on Friday, reaching $87.56. The company’s stock had a trading volume of 1,381,436 shares. The firm has a market capitalization of $39.94 billion and a P/E ratio of 26.96. Automatic Data Processing has a one year low of $76.65 and a one year high of $96.00. The stock has a 50-day moving average of $88.15 and a 200 day moving average of $89.30.

Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 28th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company earned $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post $3.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.42%.

Several research firms have recently commented on ADP. Sanford C. Bernstein raised Automatic Data Processing from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $97.00 to $110.00 in a research note on Monday, July 11th. Robert W. Baird downgraded Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a research note on Friday, July 29th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $90.00 price objective (up previously from $89.00) on shares of Automatic Data Processing in a research note on Friday, July 29th. Jefferies Group lifted their target price on Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research note on Monday, August 1st. Finally, Wedbush began coverage on Automatic Data Processing in a research note on Thursday, September 8th. They set a “neutral” rating and a $100.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $95.14.

In other news, insider Jan Siegmund sold 6,592 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $89.20, for a total value of $588,006.40. Following 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 this link. Also, VP Deborah L. Dyson sold 898 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $88.06, for a total value of $79,077.88. Following the completion of the sale, the vice president now owns 11,891 shares in the company, valued at approximately $1,047,121.46. The disclosure for this sale can be found here.

Automatic Data Processing Company Profile

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.

5 Day Chart for NYSE:ADP

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