Baldwin Brothers Inc. MA reduced its position in shares of Automatic Data Processing (NYSE:ADP) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,773 shares of the business services provider’s stock after selling 66 shares during the period. Baldwin Brothers Inc. MA’s holdings in Automatic Data Processing were worth $182,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. National Pension Service raised its position in shares of Automatic Data Processing by 10.0% during the 2nd quarter. National Pension Service now owns 376,403 shares of the business services provider’s stock valued at $38,190,000 after acquiring an additional 34,263 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Automatic Data Processing by 1.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 32,301 shares of the business services provider’s stock valued at $3,309,000 after acquiring an additional 450 shares in the last quarter. Creative Planning raised its position in shares of Automatic Data Processing by 5.2% during the 2nd quarter. Creative Planning now owns 43,077 shares of the business services provider’s stock valued at $4,414,000 after acquiring an additional 2,125 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Automatic Data Processing by 1.0% during the 2nd quarter. Trust Co. of Vermont now owns 69,360 shares of the business services provider’s stock valued at $7,107,000 after acquiring an additional 711 shares in the last quarter. Finally, NEXT Financial Group Inc raised its position in shares of Automatic Data Processing by 8.4% during the 2nd quarter. NEXT Financial Group Inc now owns 5,554 shares of the business services provider’s stock valued at $569,000 after acquiring an additional 430 shares in the last quarter.

Shares of Automatic Data Processing (ADP) traded down 0.0133% on Thursday, hitting $106.8158. The stock had a trading volume of 584,220 shares. The firm has a 50 day moving average price of $107.88 and a 200-day moving average price of $103.85. The company has a market cap of $47.47 billion and a price-to-earnings ratio of 27.7444. 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 announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. Automatic Data Processing’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Analysts anticipate 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 paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 7th.

In related news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the sale, the vice president now owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,522 shares of company stock worth $4,953,609.

ADP has been the topic of several research reports. Argus dropped their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research report on Wednesday, May 31st. Evercore ISI reissued an “underperform” rating and set a $85.00 price target on shares of Automatic Data Processing in a research report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) lowered Automatic Data Processing from a “buy” rating to a “neutral” rating and dropped their price target for the company from $115.00 to $108.00 in a research report on Tuesday, June 20th. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities 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. The company presently has an average rating of “Hold” and a consensus target price of $107.81.

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Automatic Data Processing 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.

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

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