Opus Capital Group LLC cut its stake in Automatic Data Processing (NYSE:ADP) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,071 shares of the business services provider’s stock after selling 720 shares during the quarter. Opus Capital Group LLC’s holdings in Automatic Data Processing were worth $520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Grisanti Capital Management LLC boosted its stake in Automatic Data Processing by 4.5% during the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after buying an additional 45 shares during the period. Proficio Capital Partners LLC boosted its stake in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Automatic Data Processing during the first quarter valued at $113,000. Grove Bank & Trust boosted its stake in Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares during the period. Finally, Armbruster Capital Management Inc. boosted its stake in Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares during the period.

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Automatic Data Processing (NYSE:ADP) opened at 114.11 on Wednesday. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77. The stock has a 50 day moving average price of $108.03 and a 200 day moving average price of $104.51. The stock has a market cap of $50.71 billion and a P/E ratio of 29.64.

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

The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, September 7th.

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research note on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Robert W. Baird reissued a “neutral” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $107.29.

In other Automatic Data Processing news, VP Maria Black sold 631 shares of the firm’s stock in a transaction dated 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 $1,125,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the sale, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. In the last three months, insiders sold 40,657 shares of company stock valued at $4,457,476.

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.

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

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