Signaturefd LLC cut its stake in Automatic Data Processing (NYSE:ADP) by 5.6% during the first quarter, Holdings Channel reports. The firm owned 4,319 shares of the business services provider’s stock after selling 258 shares during the period. Signaturefd LLC’s holdings in Automatic Data Processing were worth $442,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised 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 worth $3,033,995,000 after buying an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. raised 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 worth $3,500,512,000 after buying an additional 1,430,863 shares in the last quarter. American Century Companies Inc. raised its stake in Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after buying an additional 912,528 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Automatic Data Processing during the first quarter worth $53,405,000. Finally, Alliancebernstein L.P. raised 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 worth $854,515,000 after buying an additional 485,320 shares in the last quarter.

Shares of Automatic Data Processing (ADP) traded up 0.54% during mid-day trading on Friday, hitting $109.49. The stock had a trading volume of 1,032,164 shares. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The stock’s 50-day moving average is $106.07 and its 200 day moving average is $102.56. The firm has a market cap of $48.65 billion and a PE ratio of 28.44. Automatic Data Processing also was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 15,090 put options on the company. This represents an increase of approximately 264% compared to the typical volume of 4,143 put options.

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

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.09%.

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A number of analysts have weighed in on ADP shares. Barclays PLC lowered their target price on Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a report on Tuesday, April 25th. Argus lowered their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Evercore ISI restated an “underperform” rating and set a $85.00 target price on shares of Automatic Data Processing in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) lowered Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $115.00 to $108.00 in a report on Tuesday, June 20th. Finally, Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $104.96.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the transaction, the chief executive officer now owns 159,403 shares in the company, valued at $15,941,894.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s 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 owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. In the last quarter, insiders have 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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