Bank of Montreal Can trimmed its position in Automatic Data Processing (NYSE:ADP) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 693,244 shares of the business services provider’s stock after selling 10,809 shares during the period. Bank of Montreal Can owned about 0.15% of Automatic Data Processing worth $71,030,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Coconut Grove Bank boosted its position in Automatic Data Processing by 79.6% in the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after buying an additional 460 shares during the last quarter. Grisanti Capital Management LLC boosted its position in shares of Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after purchasing an additional 45 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Automatic Data Processing in the 1st quarter worth $113,000. Harbour Capital Advisors LLC bought a new position in shares of Automatic Data Processing in the 1st quarter worth $176,000. Finally, Guardian Life Insurance Co. of America boosted its position in shares of Automatic Data Processing by 0.7% in the 1st 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 during the last quarter.

In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction 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 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 45,522 shares of company stock worth $4,953,609 in the last ninety days.

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Shares of Automatic Data Processing (NYSE:ADP) traded down 0.01% during mid-day trading on Friday, reaching $106.78. The company had a trading volume of 3,116,724 shares. The firm has a market capitalization of $47.45 billion and a price-to-earnings ratio of 27.74. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock has a 50 day moving average of $108.51 and a 200-day moving average of $103.81.

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

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.14%.

Several research firms have recently issued reports on ADP. Royal Bank Of Canada raised their price target on Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Robert W. Baird restated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $107.81.

About Automatic Data Processing

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.

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

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