Kanawha Capital Management LLC grew its position in shares of Automatic Data Processing (NYSE:ADP) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,148 shares of the business services provider’s stock after purchasing an additional 947 shares during the period. Automatic Data Processing makes up approximately 1.9% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Kanawha Capital Management LLC’s holdings in Automatic Data Processing were worth $11,901,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Automatic Data Processing by 4.4% during the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after purchasing an additional 1,430,863 shares in the last quarter. BlackRock Inc. grew its position in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after acquiring an additional 28,201,085 shares in the last quarter. Alliancebernstein L.P. grew its position in Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after acquiring an additional 485,320 shares in the last quarter. Polen Capital Management LLC grew its position in Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after acquiring an additional 479,558 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after acquiring an additional 307,521 shares in the last quarter.

Automatic Data Processing (NYSE:ADP) opened at 109.64 on Thursday. The firm’s 50 day moving average price is $107.88 and its 200 day moving average price is $103.85. The stock has a market cap of $48.72 billion and a price-to-earnings ratio of 28.48. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77.

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

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.11%.

Several research firms recently commented on ADP. Royal Bank Of Canada reiterated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. BMO Capital Markets reiterated 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 reiterated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Evercore ISI reiterated an “in-line” rating and issued a $115.00 price target 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 assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $107.81.

In other news, VP Maria Black sold 631 shares of the 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 approximately $1,125,052. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael A. Bonarti sold 2,932 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the sale, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. In the last three months, insiders sold 45,522 shares of company stock valued at $4,953,609.

TRADEMARK VIOLATION NOTICE: “Automatic Data Processing (ADP) Shares Bought by Kanawha Capital Management LLC” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.thecerbatgem.com/2017/09/28/automatic-data-processing-adp-shares-bought-by-kanawha-capital-management-llc.html.

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.

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.