Geode Capital Management LLC increased its position in Automatic Data Processing (NYSE:ADP) by 6.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,779,648 shares of the business services provider’s stock after buying an additional 307,521 shares during the period. Geode Capital Management LLC’s holdings in Automatic Data Processing were worth $488,748,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Quotient Investors LLC boosted its position in Automatic Data Processing by 36.7% in the first quarter. Quotient Investors LLC now owns 8,200 shares of the business services provider’s stock worth $840,000 after buying an additional 2,200 shares in the last quarter. Ledyard National Bank boosted its position in Automatic Data Processing by 5.8% in the first quarter. Ledyard National Bank now owns 26,565 shares of the business services provider’s stock worth $2,720,000 after buying an additional 1,455 shares in the last quarter. City Holding Co. boosted its position in Automatic Data Processing by 0.6% in the first quarter. City Holding Co. now owns 31,517 shares of the business services provider’s stock worth $3,227,000 after buying an additional 195 shares in the last quarter. Stewart & Patten Co. LLC boosted its position in Automatic Data Processing by 2.1% in the first quarter. Stewart & Patten Co. LLC now owns 160,274 shares of the business services provider’s stock worth $16,410,000 after buying an additional 3,306 shares in the last quarter. Finally, Windward Capital Management Co. CA boosted its position in Automatic Data Processing by 10.7% in the first quarter. Windward Capital Management Co. CA now owns 6,862 shares of the business services provider’s stock worth $703,000 after buying an additional 666 shares in the last quarter.

Automatic Data Processing (NYSE:ADP) traded up 0.69% during midday trading on Thursday, hitting $106.66. The company had a trading volume of 587,996 shares. The company has a market cap of $47.40 billion and a P/E ratio of 27.70. The company’s 50 day moving average is $107.18 and its 200-day moving average is $103.06. 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 issued 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. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, equities analysts predict that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th.

TRADEMARK VIOLATION WARNING: “Geode Capital Management LLC Has $488.75 Million Stake in Automatic Data Processing (ADP)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/31/geode-capital-management-llc-has-488-75-million-stake-in-automatic-data-processing-adp.html.

ADP has been the subject of a number of analyst reports. Argus decreased their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Evercore ISI restated an “underperform” rating and issued a $85.00 price target on shares of Automatic Data Processing in a report on Friday, June 2nd. Goldman Sachs Group Inc cut Automatic Data Processing from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $115.00 to $108.00 in a report on Tuesday, June 20th. Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $107.25.

In related news, VP Donald Weinstein sold 1,933 shares of the 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 sale, the vice president now owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now directly owns 146,494 shares in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders have sold 41,228 shares of company stock worth $4,496,063 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.

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.