Carroll Financial Associates Inc. lowered its position in shares of Automatic Data Processing (NYSE:ADP) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,663 shares of the business services provider’s stock after selling 308 shares during the period. Carroll Financial Associates Inc.’s holdings in Automatic Data Processing were worth $1,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. First National Trust Co. increased its position in shares of Automatic Data Processing by 10.4% in the first quarter. First National Trust Co. now owns 42,694 shares of the business services provider’s stock worth $4,372,000 after buying an additional 4,005 shares in the last quarter. Community Bank & Trust Waco Texas increased its position in shares of Automatic Data Processing by 1.3% in the first quarter. Community Bank & Trust Waco Texas now owns 8,000 shares of the business services provider’s stock worth $819,000 after buying an additional 100 shares in the last quarter. Fundsmith LLP increased its position in shares of Automatic Data Processing by 3.4% in the first quarter. Fundsmith LLP now owns 4,011,368 shares of the business services provider’s stock worth $410,724,000 after buying an additional 133,125 shares in the last quarter. Donaldson Capital Management LLC increased its position in shares of Automatic Data Processing by 1.2% in the first quarter. Donaldson Capital Management LLC now owns 289,735 shares of the business services provider’s stock worth $29,666,000 after buying an additional 3,538 shares in the last quarter. Finally, Buffington Mohr McNeal increased its position in shares of Automatic Data Processing by 10.2% in the first quarter. Buffington Mohr McNeal now owns 4,335 shares of the business services provider’s stock worth $444,000 after buying an additional 400 shares in the last quarter.

Shares of Automatic Data Processing (ADP) traded up 0.4104% during mid-day trading on Friday, hitting $105.0192. The company’s stock had a trading volume of 554,045 shares. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The stock has a market cap of $46.67 billion and a PE ratio of 27.2777. The company has a 50-day moving average price of $107.15 and a 200-day moving average price of $103.00.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by $0.02. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. Analysts predict that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The firm 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 7th.

TRADEMARK VIOLATION NOTICE: “Automatic Data Processing (ADP) Shares Sold by Carroll Financial Associates Inc.” was originally reported 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 stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/08/25/automatic-data-processing-adp-shares-sold-by-carroll-financial-associates-inc.html.

ADP has been the topic of a number of research analyst reports. Argus lowered their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a report on Wednesday, May 31st. Deutsche Bank AG reissued a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday. Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI reissued an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a research report on Sunday, August 20th. Finally, Robert W. Baird reissued a “neutral” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $107.25.

In other news, insider Michael A. Bonarti sold 2,932 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 transaction of $299,005.36. Following the completion of the sale, the insider now directly owns 46,256 shares of the company’s stock, valued at $4,717,186.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 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 three months, insiders have sold 41,228 shares of company stock valued at $4,496,063.

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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