West Oak Capital LLC lessened its stake in shares of Automatic Data Processing (NYSE:ADP) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,125 shares of the business services provider’s stock after selling 265 shares during the quarter. Automatic Data Processing accounts for 1.6% of West Oak Capital LLC’s investment portfolio, making the stock its 6th biggest position. West Oak Capital LLC’s holdings in Automatic Data Processing were worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Goelzer Investment Management Inc. lifted its stake in shares of Automatic Data Processing by 0.3% during the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after purchasing an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America lifted its stake in shares of Automatic Data Processing by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after purchasing an additional 12 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Automatic Data Processing by 0.6% during the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after purchasing an additional 16 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Automatic Data Processing by 0.6% during the first quarter. Parallel Advisors LLC now owns 4,495 shares of the business services provider’s stock worth $438,000 after purchasing an additional 26 shares in the last quarter. Finally, Moloney Securities Asset Management LLC lifted its stake in shares of Automatic Data Processing by 0.5% during the first quarter. Moloney Securities Asset Management LLC now owns 5,777 shares of the business services provider’s stock worth $592,000 after purchasing an additional 28 shares in the last quarter.

In related news, VP Maria Black sold 631 shares of the firm’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were 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. In the last ninety days, insiders have sold 45,522 shares of company stock valued at $4,953,609.

ILLEGAL ACTIVITY NOTICE: This piece of content 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 illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/11/west-oak-capital-llc-trims-holdings-in-automatic-data-processing-adp.html.

Shares of Automatic Data Processing (NYSE ADP) traded down 1.02% during mid-day trading on Monday, reaching $107.30. The company had a trading volume of 1,081,779 shares. The company’s 50-day moving average price is $108.53 and its 200-day moving average price is $103.66. The company has a market capitalization of $47.68 billion and a PE ratio of 27.87. 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 posted its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. On average, analysts forecast that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, September 7th.

A number of research analysts have commented on the company. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets reaffirmed 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. Deutsche Bank AG reaffirmed a “hold” rating and set a $102.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Evercore ISI reaffirmed an “in-line” rating and set a $115.00 target price on shares of Automatic Data Processing in a research report on Sunday, August 20th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $107.81.

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.