Sabal Trust CO increased its position in shares of Automatic Data Processing (NYSE:ADP) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,365 shares of the business services provider’s stock after buying an additional 105 shares during the period. Sabal Trust CO’s holdings in Automatic Data Processing were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Coconut Grove Bank increased its position in shares of 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 worth $106,000 after buying an additional 460 shares during the last quarter. Grisanti Capital Management LLC increased its position in shares of 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 worth $107,000 after buying an additional 45 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Automatic Data Processing during the first quarter worth about $113,000. Harbour Capital Advisors LLC bought a new position in shares of Automatic Data Processing during the first quarter worth about $176,000. Finally, Guardian Life Insurance Co. of America increased its position in shares of 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 worth $178,000 after buying an additional 12 shares during the last quarter.

Automatic Data Processing (NYSE:ADP) traded up 0.21% during mid-day trading on Friday, hitting $109.13. The stock had a trading volume of 1,593,648 shares. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The firm has a market cap of $48.49 billion and a P/E ratio of 28.35. The stock has a 50-day moving average price of $106.07 and a 200 day moving average price of $102.56. Automatic Data Processing also saw unusually large options trading on Tuesday. Stock traders acquired 15,090 put options on the stock. This is an increase of approximately 264% compared to the average daily volume of 4,143 put options.

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 consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. Equities analysts anticipate that Automatic Data Processing will post $3.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 7th.

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A number of research analysts have issued reports on the company. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Wednesday. Barclays PLC reissued a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. Robert W. Baird reissued a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price target for the company. in a report on Friday, June 2nd. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $104.96.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was 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 of the company’s stock, valued at $15,941,894.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders have sold 90,620 shares of company stock valued at $9,435,757 in the last three months.

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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