Renaissance Investment Group LLC lessened its position in shares of Automatic Data Processing (NYSE:ADP) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,505 shares of the business services provider’s stock after selling 2,107 shares during the quarter. Automatic Data Processing makes up about 2.7% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 10th largest position. Renaissance Investment Group LLC’s holdings in Automatic Data Processing were worth $6,096,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after purchasing an additional 1,430,863 shares in the last quarter. BlackRock Inc. lifted its position in shares of Automatic Data Processing by 1,971.2% during the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares during the period. Alliancebernstein L.P. lifted its position in shares of Automatic Data Processing by 6.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after buying an additional 485,320 shares during the period. Polen Capital Management LLC lifted its position in shares of Automatic Data Processing by 8.3% during the 1st quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after buying an additional 479,558 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Automatic Data Processing by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after buying an additional 307,521 shares during the period.

Shares of Automatic Data Processing (NYSE:ADP) traded down 0.0133% during trading on Thursday, reaching $106.8158. The company’s stock had a trading volume of 584,220 shares. The firm’s 50-day moving average is $107.88 and its 200 day moving average is $103.85. The company has a market cap of $47.47 billion and a PE ratio of 27.7444. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77.

Automatic Data Processing (NYSE:ADP) last issued its 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 business 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 8.67% and a return on equity of 26.39%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. On average, equities research analysts predict that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

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

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Several research firms recently commented on ADP. Royal Bank Of Canada restated a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. BMO Capital Markets restated a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Deutsche Bank AG restated a “hold” rating and set a $102.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Evercore ISI restated an “in-line” rating and set a $115.00 target price on shares of Automatic Data Processing in a research report on Sunday, August 20th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $107.81.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was 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 owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the completion of the sale, the insider now directly owns 46,256 shares in the company, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,522 shares of company stock worth $4,953,609.

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.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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