Dorsey & Whitney Trust CO LLC trimmed its position in shares of Automatic Data Processing (NYSE:ADP) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,420 shares of the business services provider’s stock after selling 8 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Automatic Data Processing were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Norinchukin Bank The grew its position in Automatic Data Processing by 0.7% during the 2nd quarter. Norinchukin Bank The now owns 257,448 shares of the business services provider’s stock valued at $26,378,000 after purchasing an additional 1,878 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in Automatic Data Processing by 0.4% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 23,333 shares of the business services provider’s stock valued at $2,391,000 after purchasing an additional 94 shares during the last quarter. HAP Trading LLC grew its position in Automatic Data Processing by 373.5% during the 2nd quarter. HAP Trading LLC now owns 50,661 shares of the business services provider’s stock valued at $5,191,000 after purchasing an additional 39,961 shares during the last quarter. WBI Investments Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at about $8,857,000. Finally, SVA Plumb Wealth Management LLC grew its position in Automatic Data Processing by 26.8% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 3,309 shares of the business services provider’s stock valued at $339,000 after purchasing an additional 700 shares during the last quarter.

Several analysts recently commented on the stock. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Barclays PLC raised their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada raised their price target on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $111.57.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/automatic-data-processing-adp-position-reduced-by-dorsey-whitney-trust-co-llc/1679751.html.

Automatic Data Processing (NYSE ADP) opened at $112.24 on Friday.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis.

In other news, VP Maria Black sold 631 shares of the stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brock Albinson sold 3,663 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here.

Automatic Data Processing Profile

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.

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).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with Analyst Ratings Network's FREE daily email newsletter.