Seaward Management Limited Partnership raised its stake in Automatic Data Processing (NYSE:ADP) by 2.9% during the first quarter, Holdings Channel reports. The firm owned 165,123 shares of the business services provider’s stock after buying an additional 4,681 shares during the period. Seaward Management Limited Partnership’s holdings in Automatic Data Processing were worth $16,906,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Coconut Grove Bank increased its stake 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 stake 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. purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $113,000. Harbour Capital Advisors LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $176,000. Finally, Guardian Life Insurance Co. of America increased its stake 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.

Shares of Automatic Data Processing (ADP) traded down 0.0963% on Wednesday, reaching $111.4726. 1,187,688 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $106.77 and its 200-day moving average price is $102.73. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The company has a market capitalization of $49.54 billion and a P/E ratio of 28.9539.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 59.56% and a net margin of 17.24%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. 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. Stockholders of record on Friday, September 8th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 7th.

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A number of brokerages recently commented on ADP. BMO Capital Markets restated a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Barclays PLC restated a “buy” rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. Robert W. Baird restated a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research report on Sunday, July 30th. Evercore ISI downgraded shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research report on Friday, June 2nd. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $104.96.

In other news, 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 value of $4,939,693.92. Following the completion of the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the sale, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,620 shares of company stock valued at $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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