Raymond James Trust N.A. decreased its holdings in Automatic Data Processing (NYSE:ADP) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,739 shares of the business services provider’s stock after selling 911 shares during the quarter. Raymond James Trust N.A.’s holdings in Automatic Data Processing were worth $4,584,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ADP. Boston Family Office LLC raised its stake in shares of Automatic Data Processing by 54.9% in the 1st quarter. Boston Family Office LLC now owns 80,234 shares of the business services provider’s stock valued at $8,215,000 after buying an additional 28,425 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Automatic Data Processing by 49.4% in the 1st quarter. Toronto Dominion Bank now owns 126,257 shares of the business services provider’s stock valued at $12,927,000 after buying an additional 41,760 shares in the last quarter. Warren Averett Asset Management LLC raised its stake in shares of Automatic Data Processing by 2.2% in the 1st quarter. Warren Averett Asset Management LLC now owns 2,308 shares of the business services provider’s stock valued at $236,000 after buying an additional 50 shares in the last quarter. NEXT Financial Group Inc increased its position in shares of Automatic Data Processing by 2.6% during the 1st quarter. NEXT Financial Group Inc now owns 5,124 shares of the business services provider’s stock worth $535,000 after purchasing an additional 130 shares in the last quarter. Finally, Heathbridge Capital Management Ltd. increased its position in shares of Automatic Data Processing by 0.8% during the 1st quarter. Heathbridge Capital Management Ltd. now owns 263,950 shares of the business services provider’s stock worth $27,026,000 after purchasing an additional 2,000 shares in the last quarter.

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In other news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the transaction, the vice president now owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here.

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Sanford C. Bernstein increased their target price on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays PLC increased their target price on shares of Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $111.57.

Shares of Automatic Data Processing (ADP) opened at $112.24 on Friday.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS.

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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