Clifford Swan Investment Counsel LLC lowered its stake in shares of Automatic Data Processing (NYSE:ADP) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,094 shares of the business services provider’s stock after selling 1,875 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Automatic Data Processing were worth $7,996,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Coconut Grove Bank boosted 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 period. Grisanti Capital Management LLC boosted 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 period. Sowell Financial Services LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $180,000. Ibex Wealth Advisors acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $197,000. Finally, Weatherly Asset Management L. P. acquired a new stake in shares of Automatic Data Processing during the first quarter worth $209,000.

Automatic Data Processing (NYSE ADP) opened at 101.305 on Wednesday. Automatic Data Processing has a one year low of $85.48 and a one year high of $105.68. The firm has a market cap of $45.32 billion and a price-to-earnings ratio of 26.211. The firm has a 50-day moving average of $102.13 and a 200-day moving average of $101.69.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the business posted $1.17 EPS. Automatic Data Processing’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing will post $3.71 EPS for the current year.

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ADP has been the subject of a number of research reports. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $98.00 price target on shares of Automatic Data Processing in a research report on Wednesday, April 5th. Evercore ISI cut shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price target for the company. in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Argus decreased their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research report on Wednesday, May 31st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $98.43.

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 shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares in the company, valued at approximately $15,941,894.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the sale, the insider now owns 46,256 shares in the company, valued at $4,717,186.88. The disclosure for this sale can be found here. Insiders sold a total of 54,257 shares of company stock worth $5,435,827 over the last 90 days.

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.

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

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