Laurel Wealth Advisors Inc. decreased its position in Automatic Data Processing (NYSE:ADP) by 2.9% during the first quarter, Holdings Channel reports. The firm owned 2,343 shares of the business services provider’s stock after selling 70 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Automatic Data Processing were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake 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 buying an additional 28,201,085 shares during the last quarter. Vanguard Group Inc. boosted 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 during the last quarter. American Century Companies Inc. boosted its stake in Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock valued at $276,227,000 after buying an additional 912,528 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Automatic Data Processing during the first quarter valued at approximately $53,405,000. Finally, Alliancebernstein L.P. boosted its stake in 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 valued at $854,515,000 after buying an additional 485,320 shares during the last quarter.

Shares of Automatic Data Processing (ADP) traded down 0.09% during mid-day trading on Wednesday, hitting $111.48. 1,188,686 shares of the stock traded hands. The stock has a 50-day moving average of $106.77 and a 200-day moving average of $102.73. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The company has a market cap of $49.54 billion and a price-to-earnings ratio of 28.96.

Automatic Data Processing (NYSE:ADP) last released 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 company had revenue of $3.06 billion during 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%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. Analysts anticipate that Automatic Data Processing will post $3.82 EPS for the current 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 paid 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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Several analysts have commented on ADP shares. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Evercore ISI cut shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a research note on Friday, June 2nd. William Blair cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Finally, BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $104.96.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 quarter, 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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