HM Payson & Co. boosted its stake in shares of Automatic Data Processing (NYSE:ADP) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,911 shares of the business services provider’s stock after buying an additional 510 shares during the period. HM Payson & Co.’s holdings in Automatic Data Processing were worth $4,701,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Coconut Grove Bank raised its stake in Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after buying an additional 460 shares during the last quarter. Grisanti Capital Management LLC increased its stake in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after buying an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Automatic Data Processing during the first quarter valued at $113,000. Harbour Capital Advisors LLC bought a new stake in Automatic Data Processing during the first quarter valued at $176,000. Finally, Guardian Life Insurance Co. of America increased 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 period.

Automatic Data Processing (ADP) traded up 1.1421% during trading on Tuesday, hitting $110.9428. 2,882,613 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $106.50 and its 200 day moving average price is $102.66. 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 $49.30 billion and a P/E ratio of 28.8163.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the Zacks’ 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 net margin of 17.24% and a return on equity of 59.56%. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. Analysts anticipate that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 7th.

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Several research firms recently weighed in on ADP. Wells Fargo & Company reiterated a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday, August 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Wednesday, August 9th. Argus lifted their target price on shares of Automatic Data Processing from $118.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Morgan Stanley downgraded shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $98.00 to $100.00 in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada lifted their target price 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $104.96.

In related news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The shares were 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 directly owns 146,494 shares in the company, valued at approximately $16,114,340. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the sale, the chief executive officer now owns 159,403 shares in the company, valued at $15,941,894.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,620 shares of company stock valued at $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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