Investment Management of Virginia LLC grew its stake in shares of Automatic Data Processing (NYSE:ADP) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,545 shares of the business services provider’s stock after buying an additional 170 shares during the quarter. Investment Management of Virginia LLC’s holdings in Automatic Data Processing were worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Goelzer Investment Management Inc. raised its position in shares of Automatic Data Processing by 0.3% during the 1st quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after buying an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake 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 purchasing an additional 12 shares during the last quarter. Washington Trust Bank grew its stake in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after purchasing an additional 12 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Automatic Data Processing by 0.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after purchasing an additional 16 shares during the last quarter. Finally, Personal Capital Advisors Corp grew its stake in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock worth $243,000 after purchasing an additional 16 shares during the last quarter.

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

In related news, VP Maria Black sold 631 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock valued at $4,457,476 over the last three months.

Automatic Data Processing (NYSE:ADP) last issued 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). The business had revenue of $3.06 billion for 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%. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors 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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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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