First Interstate Bank lowered its stake in shares of Automatic Data Processing (NYSE:ADP) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,719 shares of the business services provider’s stock after selling 280 shares during the quarter. First Interstate Bank’s holdings in Automatic Data Processing were worth $484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after acquiring an additional 28,201,085 shares in the last quarter. Gardiner Nancy B increased its holdings in shares of Automatic Data Processing by 8.8% during the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after acquiring an additional 1,705 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Automatic Data Processing during the first quarter valued at about $1,447,000. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Automatic Data Processing by 1.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after acquiring an additional 380 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Automatic Data Processing by 37.2% during the first quarter. Lazard Asset Management LLC now owns 142,475 shares of the business services provider’s stock valued at $14,587,000 after acquiring an additional 38,603 shares in the last quarter.

Shares of Automatic Data Processing (NYSE:ADP) opened at 114.58 on Tuesday. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The stock has a market cap of $50.92 billion and a price-to-earnings ratio of 29.76. The company has a 50-day moving average price of $108.98 and a 200-day moving average price of $104.75.

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

The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, September 7th.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Monday. Goldman Sachs Group, Inc. (The) downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their price objective for the company from $115.00 to $108.00 in a report on Tuesday, June 20th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada upped 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 report on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $108.00 price objective (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $109.25.

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In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing 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 transaction, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Maria Black sold 631 shares of Automatic Data Processing 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 transaction, the vice president now owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,657 shares of company stock worth $4,457,476.

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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