Nelson Van Denburg & Campbell Wealth Management Group LLC reduced its position in Automatic Data Processing (NYSE:ADP) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,699 shares of the business services provider’s stock after selling 520 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $1,590,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ADP. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after buying an additional 485,320 shares during the last quarter. Polen Capital Management LLC boosted its stake in shares of Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after buying an additional 479,558 shares during the last quarter. Fundsmith LLP boosted its stake 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 during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Automatic Data Processing by 9.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,920,620 shares of the business services provider’s stock worth $299,042,000 after buying an additional 241,473 shares during the last quarter.

Automatic Data Processing (NYSE ADP) traded up 0.2474% during trading on Wednesday, reaching $105.3801. The company’s stock had a trading volume of 384,704 shares. The stock has a 50-day moving average of $107.18 and a 200 day moving average of $103.06. The firm has a market capitalization of $46.83 billion and a P/E ratio of 27.3715. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Automatic Data Processing will post $3.81 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 given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.17%.

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A number of analysts have commented on ADP shares. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $98.00 to $100.00 in a research report on Thursday, August 3rd. Barclays PLC reiterated an “equal weight” rating and set a $105.00 target price on shares of Automatic Data Processing in a research report on Tuesday, August 15th. BMO Capital Markets reiterated a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $110.00 target price (up previously from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $107.25.

In related news, VP Donald Weinstein sold 1,933 shares of Automatic Data Processing stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $197,127.34. Following the completion of the transaction, the vice president now directly owns 25,737 shares in the company, valued at approximately $2,624,659.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of Automatic Data Processing stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $299,005.36. Following the transaction, the insider now owns 46,256 shares of the company’s stock, valued at $4,717,186.88. The disclosure for this sale can be found here. Over the last quarter, 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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