Canada Pension Plan Investment Board reduced its stake in shares of Automatic Data Processing (NYSE:ADP) by 85.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,211 shares of the business services provider’s stock after selling 18,138 shares during the period. Canada Pension Plan Investment Board’s holdings in Automatic Data Processing were worth $329,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADP. Usca Ria LLC increased its holdings in Automatic Data Processing by 14.4% in the first quarter. Usca Ria LLC now owns 3,442 shares of the business services provider’s stock worth $352,000 after buying an additional 432 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Automatic Data Processing by 1.1% during the first quarter. Sequoia Financial Advisors LLC now owns 4,496 shares of the business services provider’s stock valued at $460,000 after acquiring an additional 47 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Automatic Data Processing by 74.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 37,168 shares of the business services provider’s stock valued at $3,806,000 after acquiring an additional 15,884 shares in the last quarter. Webster Bank N. A. raised its position in Automatic Data Processing by 5.5% during the first quarter. Webster Bank N. A. now owns 17,609 shares of the business services provider’s stock valued at $1,803,000 after acquiring an additional 925 shares in the last quarter. Finally, Tyers Asset Management LLC raised its position in Automatic Data Processing by 19.5% during the first quarter. Tyers Asset Management LLC now owns 11,680 shares of the business services provider’s stock valued at $1,196,000 after acquiring an additional 1,904 shares in the last quarter.

Automatic Data Processing (ADP) opened at 109.32 on Tuesday. The stock has a 50 day moving average price of $107.10 and a 200-day moving average price of $104.13. The company has a market capitalization of $48.58 billion and a price-to-earnings ratio of 28.39. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77.

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

The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.09%.

ADP has been the subject of several recent research reports. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $107.81.

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In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Maria Black sold 631 shares of the firm’s 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 completion of the sale, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here. Insiders have sold a total of 40,657 shares of company stock worth $4,457,476 over the last 90 days.

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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