Checchi Capital Advisers LLC reduced its holdings in shares of Automatic Data Processing (NYSE:ADP) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,277 shares of the business services provider’s stock after selling 556 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Automatic Data Processing were worth $541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after purchasing an additional 28,201,085 shares in the last quarter. Gardiner Nancy B lifted its position in shares of Automatic Data Processing by 8.8% during the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock worth $2,153,000 after purchasing an additional 1,705 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Automatic Data Processing during the first quarter worth $1,447,000. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Automatic Data Processing by 1.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock worth $3,957,000 after purchasing an additional 380 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Automatic Data Processing by 37.2% during the first quarter. Lazard Asset Management LLC now owns 142,475 shares of the business services provider’s stock worth $14,587,000 after purchasing an additional 38,603 shares in the last quarter.

Shares of Automatic Data Processing (ADP) opened at 113.48 on Monday. The firm has a market capitalization of $50.43 billion and a PE ratio of 29.48. The company has a 50-day moving average of $107.45 and a 200 day moving average of $104.35. 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 announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS 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 company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.01%.

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In other news, VP Brock Albinson sold 3,663 shares of the firm’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 sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,657 shares of company stock worth $4,457,476.

A number of research analysts have recently commented on the stock. Goldman Sachs Group, Inc. (The) cut shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada boosted their target price on shares of 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. Stifel Nicolaus reissued a “hold” rating and set a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Barclays PLC cut shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $107.29.

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.

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

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