Grandfield & Dodd LLC held its position in Automatic Data Processing (NYSE:ADP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,970 shares of the business services provider’s stock at the close of the second quarter. Grandfield & Dodd LLC’s holdings in Automatic Data Processing were worth $1,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings 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 valued at $3,033,995,000 after acquiring an additional 28,201,085 shares during the last quarter. Gardiner Nancy B lifted its holdings in Automatic Data Processing by 8.8% in 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 during the last quarter. Gotham Asset Management LLC acquired a new position in Automatic Data Processing in the first quarter valued at approximately $1,447,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Automatic Data Processing by 1.0% in 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 during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Automatic Data Processing by 37.2% in 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 during the last quarter.

In related news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction on Thursday, July 27th. The shares were 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 in the company, valued at approximately $16,114,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the transaction, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders have sold a total of 45,522 shares of company stock worth $4,953,609 in the last 90 days.

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Shares of Automatic Data Processing (NYSE ADP) opened at 106.79 on Friday. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The stock’s 50 day moving average price is $107.88 and its 200-day moving average price is $103.85. The stock has a market cap of $47.45 billion and a price-to-earnings ratio of 27.74.

Automatic Data Processing (NYSE:ADP) last posted its earnings results 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). The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, analysts predict that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.13%.

A number of research analysts have commented on ADP shares. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $98.00 to $100.00 in a research note on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research note on Tuesday, August 15th. BMO Capital Markets restated a “market perform” rating and set a $105.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Citigroup Inc. restated a “neutral” rating and set a $110.00 price target (up from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $107.81.

Automatic Data Processing 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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