Abner Herrman & Brock LLC grew its position in Automatic Data Processing (NYSE:ADP) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,040 shares of the business services provider’s stock after purchasing an additional 1,661 shares during the quarter. Automatic Data Processing makes up about 2.1% of Abner Herrman & Brock LLC’s portfolio, making the stock its 13th largest position. Abner Herrman & Brock LLC’s holdings in Automatic Data Processing were worth $11,172,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Coconut Grove Bank boosted its stake in shares of Automatic Data Processing by 79.6% in the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 460 shares during the last quarter. Grisanti Capital Management LLC boosted its stake in shares of Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 45 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at $113,000. Harbour Capital Advisors LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at $176,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 12 shares during the last quarter.

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Shares of Automatic Data Processing (NYSE ADP) traded up 1.28% on Friday, reaching $108.16. 1,804,401 shares of the company traded hands. The stock has a market capitalization of $48.06 billion and a P/E ratio of 28.09. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock’s 50 day moving average price is $107.88 and its 200-day moving average price is $103.85.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). The company 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 8.67% and a return on equity of 26.39%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Equities analysts forecast that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, September 7th.

A number of equities research analysts have recently commented on ADP shares. Argus reduced their price objective on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $110.00 to $105.00 in a research note on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price objective (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Automatic Data Processing in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $107.81.

In related news, insider Michael A. Bonarti sold 2,932 shares of Automatic Data Processing stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the sale, the insider now owns 46,256 shares in the company, valued at $4,717,186.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the sale, the chief executive officer now owns 146,494 shares in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,522 shares of company stock worth $4,953,609.

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.

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

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