Columbia Partners L L C Investment Management acquired a new stake in Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,364 shares of the business services provider’s stock, valued at approximately $549,000.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after buying an additional 1,430,863 shares in the last quarter. BlackRock Inc. increased its stake in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares in the last quarter. Alliancebernstein L.P. increased its stake in Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after buying an additional 485,320 shares in the last quarter. Polen Capital Management LLC increased its stake in Automatic Data Processing by 8.3% in the first 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock valued at $488,748,000 after buying an additional 307,521 shares in the last quarter.

Automatic Data Processing (NYSE ADP) traded down 0.08% during trading on Wednesday, hitting $111.49. 1,187,788 shares of the stock were exchanged. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock has a market capitalization of $49.54 billion and a price-to-earnings ratio of 28.96. The firm has a 50-day moving average of $106.77 and a 200-day moving average of $102.73.

Automatic Data Processing (NYSE:ADP) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. Equities research analysts anticipate that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.04%.

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Several analysts recently issued reports on ADP shares. Barclays PLC decreased their price objective on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a report on Tuesday, April 25th. Morgan Stanley downgraded shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $98.00 to $100.00 in a report on Thursday, August 3rd. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. William Blair downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $104.96.

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the sale, the chief executive officer now owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael A. Bonarti sold 2,932 shares of the business’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 sale, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. In the last three months, insiders sold 90,620 shares of company stock valued at $9,435,757.

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

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