GM Advisory Group Inc. lowered its position in Automatic Data Processing (NYSE:ADP) by 14.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,536 shares of the business services provider’s stock after selling 440 shares during the period. GM Advisory Group Inc.’s holdings in Automatic Data Processing were worth $261,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. boosted its stake in Automatic Data Processing by 0.3% in the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock valued at $434,000 after buying an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after buying an additional 12 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in Automatic Data Processing by 0.5% in the first quarter. Moloney Securities Asset Management LLC now owns 5,777 shares of the business services provider’s stock valued at $592,000 after buying an additional 28 shares during the last quarter. Ronald Blue & Co. LLC boosted its stake in Automatic Data Processing by 0.7% in the first quarter. Ronald Blue & Co. LLC now owns 4,044 shares of the business services provider’s stock valued at $414,000 after buying an additional 30 shares during the last quarter. Finally, TCI Wealth Advisors Inc. boosted its stake in Automatic Data Processing by 1.2% in the first quarter. TCI Wealth Advisors Inc. now owns 2,669 shares of the business services provider’s stock valued at $273,000 after buying an additional 32 shares during the last quarter.

Shares of Automatic Data Processing (NYSE:ADP) traded up 0.79% during midday trading on Thursday, reaching $106.77. 659,198 shares of the company traded hands. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The firm has a market capitalization of $47.45 billion and a PE ratio of 27.73. The stock has a 50 day moving average price of $107.18 and a 200 day moving average price of $103.06.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The company 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 firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts expect that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th.

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ADP has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC cut shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $110.00 to $105.00 in a research report on Tuesday, July 18th. William Blair cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Evercore ISI cut shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective on the stock. in a research report on Friday, June 2nd. Finally, Morgan Stanley cut shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $98.00 to $100.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $107.25.

In other news, insider Michael A. Bonarti sold 2,932 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the sale, the insider now directly owns 46,256 shares in the company, valued at approximately $4,717,186.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares in the company, valued at $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 41,228 shares of company stock worth $4,496,063 over the last quarter.

Automatic Data Processing Company 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.

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

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