Delta Asset Management LLC TN boosted its stake in shares of Automatic Data Processing (NYSE:ADP) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,858 shares of the business services provider’s stock after buying an additional 141 shares during the period. Delta Asset Management LLC TN’s holdings in Automatic Data Processing were worth $293,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. 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 valued at $3,500,512,000 after buying an additional 1,430,863 shares in the last quarter. BlackRock Inc. boosted its position in shares of 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 during the last quarter. Alliancebernstein L.P. boosted its position in shares of 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 during the last quarter. Polen Capital Management LLC boosted its position in shares of Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after buying an additional 479,558 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after buying an additional 307,521 shares during the last quarter.

Shares of Automatic Data Processing (ADP) traded down 0.21% during midday trading on Wednesday, reaching $111.35. The company’s stock had a trading volume of 1,368,944 shares. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock’s 50 day moving average price is $106.77 and its 200 day moving average price is $102.73. The firm has a market cap of $49.48 billion and a price-to-earnings ratio of 28.92.

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 Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. Analysts predict that Automatic Data Processing will post $3.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 7th.

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A number of research analysts have issued reports on the company. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $115.00 to $108.00 in a research note on Tuesday, June 20th. Barclays PLC restated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Royal Bank Of Canada upped their price objective on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $104.96.

In other news, CEO Carlos A. Rodriguez sold 36,363 shares of the company’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 sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares in the company, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. In the last three months, insiders sold 90,620 shares of company stock worth $9,435,757.

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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