White Pine Investment CO reduced its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,761 shares of the business services provider’s stock after selling 400 shares during the quarter. White Pine Investment CO’s holdings in Automatic Data Processing were worth $3,053,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADP. Bessemer Group Inc. grew its position in shares of Automatic Data Processing by 1.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,817,159 shares of the business services provider’s stock valued at $243,752,000 after purchasing an additional 34,105 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Automatic Data Processing by 2.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,489,616 shares of the business services provider’s stock valued at $199,817,000 after purchasing an additional 37,131 shares during the period. Coho Partners Ltd. grew its position in shares of Automatic Data Processing by 2.8% in the 2nd quarter. Coho Partners Ltd. now owns 1,123,503 shares of the business services provider’s stock valued at $150,707,000 after purchasing an additional 30,718 shares during the period. BTIM Corp. acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at approximately $93,401,000. Finally, Huntington National Bank grew its position in shares of Automatic Data Processing by 3.6% in the 2nd quarter. Huntington National Bank now owns 442,469 shares of the business services provider’s stock valued at $59,352,000 after purchasing an additional 15,557 shares during the period. Institutional investors own 78.66% of the company’s stock.

In other Automatic Data Processing news, VP Stuart Sackman sold 2,685 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $135.01, for a total transaction of $362,501.85. Following the completion of the transaction, the vice president now owns 21,740 shares of the company’s stock, valued at approximately $2,935,117.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael A. Bonarti sold 2,372 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $132.66, for a total value of $314,669.52. Following the transaction, the insider now directly owns 41,023 shares of the company’s stock, valued at approximately $5,442,111.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,723 shares of company stock valued at $3,223,283. Insiders own 0.25% of the company’s stock.

Automatic Data Processing opened at $139.29 on Friday, MarketBeat reports. Automatic Data Processing has a twelve month low of $102.81 and a twelve month high of $141.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $60.62 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.36 and a beta of 0.88.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s revenue was up 8.3% on a year-over-year basis. sell-side analysts forecast that Automatic Data Processing will post 5.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.45%.

Several equities analysts recently issued reports on ADP shares. BMO Capital Markets reiterated a “hold” rating and issued a $118.00 price objective on shares of Automatic Data Processing in a research report on Thursday, April 19th. ValuEngine upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Morgan Stanley boosted their price objective on Automatic Data Processing from $114.00 to $122.00 and gave the company a “hold” rating in a research report on Thursday, May 3rd. Bank of America boosted their price objective on Automatic Data Processing from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 4th. Finally, BidaskClub upgraded Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 4th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $136.73.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions.

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

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