Huntington National Bank cut its position in shares of Automatic Data Processing (NYSE:ADP) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 420,078 shares of the business services provider’s stock after selling 764 shares during the period. Huntington National Bank’s holdings in Automatic Data Processing were worth $43,041,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bridges Investment Counsel Inc. boosted its stake in shares of Automatic Data Processing by 80.3% in the second quarter. Bridges Investment Counsel Inc. now owns 3,975 shares of the business services provider’s stock worth $407,000 after buying an additional 1,770 shares during the last quarter. Financial Architects Inc boosted its stake in shares of Automatic Data Processing by 0.6% in the second quarter. Financial Architects Inc now owns 16,033 shares of the business services provider’s stock worth $1,643,000 after buying an additional 100 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Automatic Data Processing by 59.3% in the second quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock worth $180,972,000 after buying an additional 657,209 shares during the last quarter. Murphy Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 4.5% in the second quarter. Murphy Capital Management Inc. now owns 4,624 shares of the business services provider’s stock worth $473,000 after buying an additional 200 shares during the last quarter. Finally, Forsta AP Fonden boosted its stake in shares of Automatic Data Processing by 6.4% in the second quarter. Forsta AP Fonden now owns 88,684 shares of the business services provider’s stock worth $9,087,000 after buying an additional 5,300 shares during the last quarter.

Automatic Data Processing (NYSE ADP) traded down 0.18% on Wednesday, reaching $111.38. 1,368,433 shares of the company traded hands. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The company has a 50-day moving average price of $106.77 and a 200-day moving average price of $102.73. The company has a market capitalization of $49.49 billion and a P/E ratio of 28.93.

Automatic Data Processing (NYSE:ADP) last issued 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. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. Equities research analysts expect that Automatic Data Processing will post $3.82 EPS for the current year.

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

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A number of equities research analysts have recently commented on the stock. Barclays PLC reaffirmed an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Tuesday. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday, August 9th. BMO Capital Markets reaffirmed 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 upped 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. Finally, Morgan Stanley cut shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $98.00 to $100.00 in a report on Thursday, August 3rd. 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.96.

In related news, VP Donald Weinstein sold 1,933 shares of Automatic Data Processing stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the sale, the vice president now directly owns 25,737 shares in the company, valued at approximately $2,624,659.26. 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 quarter, insiders sold 90,620 shares of company stock worth $9,435,757.

About Automatic Data Processing

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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