Bank of The West trimmed its stake in Automatic Data Processing (NYSE:ADP) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,864 shares of the business services provider’s stock after selling 235 shares during the period. Bank of The West’s holdings in Automatic Data Processing were worth $601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Coconut Grove Bank raised its position in shares of 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 worth $106,000 after acquiring an additional 460 shares in the last quarter. Grisanti Capital Management LLC raised 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 acquiring an additional 45 shares in 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 raised 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 acquiring an additional 12 shares in the last quarter.

Automatic Data Processing (ADP) traded down 0.258% during mid-day trading on Monday, reaching $106.505. The company’s stock had a trading volume of 658,580 shares. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock’s 50 day moving average is $108.51 and its 200 day moving average is $103.81. The firm has a market cap of $47.33 billion and a PE ratio of 27.664.

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 Zacks’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current year.

The company 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 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 7th.

In other news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the sale, the vice president now owns 10,550 shares in the company, valued at $1,125,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. 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 quarter.

Several research analysts have recently commented on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Friday. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price target 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. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $107.81.

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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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