BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of Automatic Data Processing (NYSE:ADP) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,186 shares of the business services provider’s stock after selling 14,525 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Automatic Data Processing worth $25,122,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ADP. Grisanti Capital Management LLC lifted its stake in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after buying an additional 45 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Automatic Data Processing in the first quarter valued at approximately $113,000. Grove Bank & Trust lifted its stake in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares during the last quarter. Armbruster Capital Management Inc. lifted its stake in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Automatic Data Processing in the first quarter valued at approximately $176,000.

ADP has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a report on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Robert W. Baird reissued a “neutral” rating and issued a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $107.29.

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Shares of Automatic Data Processing (NYSE:ADP) opened at 113.48 on Friday. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The firm has a 50-day moving average price of $107.45 and a 200 day moving average price of $104.35. The firm has a market cap of $50.43 billion and a price-to-earnings ratio of 29.48.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 7th.

In other news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the transaction, the chief executive officer now directly owns 146,494 shares in the company, valued at approximately $16,114,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the transaction, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,657 shares of company stock worth $4,457,476.

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.

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

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