Perigon Wealth Management LLC cut its stake in shares of Automatic Data Processing (NYSE:ADP) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,445 shares of the business services provider’s stock after selling 175 shares during the period. Perigon Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,384,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its stake in shares of Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock valued at $2,353,000 after buying an additional 6,300 shares during the last quarter. First National Bank of Omaha boosted its stake in shares of Automatic Data Processing by 22.3% in the first quarter. First National Bank of Omaha now owns 8,374 shares of the business services provider’s stock valued at $857,000 after buying an additional 1,529 shares during the last quarter. Marathon Asset Management LLP boosted its stake in shares of Automatic Data Processing by 9.0% in the first quarter. Marathon Asset Management LLP now owns 370,072 shares of the business services provider’s stock valued at $38,086,000 after buying an additional 30,517 shares during the last quarter. TNB Financial bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $582,000. Finally, Oakmont Partners LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $1,005,000.

Automatic Data Processing (NYSE:ADP) traded down 0.08% during trading on Wednesday, reaching $111.49. The company had a trading volume of 1,187,788 shares. The stock has a 50 day moving average price of $106.77 and a 200-day moving average price of $102.73. The company has a market capitalization of $49.54 billion and a PE ratio of 28.96. 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 released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 7th.

TRADEMARK VIOLATION WARNING: “Perigon Wealth Management LLC Has $1.38 Million Position in Automatic Data Processing (ADP)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/16/perigon-wealth-management-llc-has-1-38-million-position-in-automatic-data-processing-adp.html.

Several analysts have recently issued reports on ADP shares. Barclays PLC reduced their price objective on Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 25th. Argus reduced their price objective on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. Evercore ISI reiterated an “underperform” rating and issued a $85.00 price objective on shares of Automatic Data Processing in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $115.00 to $108.00 in a research note on Tuesday, June 20th. Finally, Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.96.

In other news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction dated 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 approximately $16,114,340. The disclosure for this sale can be found here. Insiders sold a total of 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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).

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

Receive News & Stock Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related stocks with our FREE daily email newsletter.