Foresters Investment Management Company Inc. continued to hold its stake in shares of Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,050 shares of the business services provider’s stock at the end of the first quarter. Foresters Investment Management Company Inc.’s holdings in Automatic Data Processing were worth $3,486,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First National Trust Co. raised its position in Automatic Data Processing by 10.4% in the first quarter. First National Trust Co. now owns 42,694 shares of the business services provider’s stock valued at $4,372,000 after buying an additional 4,005 shares during the period. Community Bank & Trust Waco Texas raised its position in Automatic Data Processing by 1.3% in the first quarter. Community Bank & Trust Waco Texas now owns 8,000 shares of the business services provider’s stock valued at $819,000 after buying an additional 100 shares during the period. Fundsmith LLP raised its position in Automatic Data Processing by 3.4% in the first quarter. Fundsmith LLP now owns 4,011,368 shares of the business services provider’s stock valued at $410,724,000 after buying an additional 133,125 shares during the period. Donaldson Capital Management LLC raised its position in Automatic Data Processing by 1.2% in the first quarter. Donaldson Capital Management LLC now owns 289,735 shares of the business services provider’s stock valued at $29,666,000 after buying an additional 3,538 shares during the period. Finally, Stifel Financial Corp raised its position in Automatic Data Processing by 3.0% in the first quarter. Stifel Financial Corp now owns 358,517 shares of the business services provider’s stock valued at $36,725,000 after buying an additional 10,321 shares during the period.

Shares of Automatic Data Processing (ADP) traded up 0.35% during trading on Monday, reaching $104.96. The company had a trading volume of 261,906 shares. The company has a market cap of $46.64 billion and a P/E ratio of 27.26. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The firm has a 50-day moving average of $107.18 and a 200-day moving average of $103.06.

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

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 7th.

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Several equities analysts have recently commented on the company. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada upped their target price on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $107.25.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now directly owns 25,737 shares in the company, valued at $2,624,659.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’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 completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,228 shares of company stock valued at $4,496,063.

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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