Elkhorn Investments LLC lessened its stake in shares of Automatic Data Processing (NYSE:ADP) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,330 shares of the business services provider’s stock after selling 539 shares during the quarter. Automatic Data Processing accounts for about 1.1% of Elkhorn Investments LLC’s investment portfolio, making the stock its 25th largest position. Elkhorn Investments LLC’s holdings in Automatic Data Processing were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ADP. BlackRock Inc. lifted its position in shares of Automatic Data Processing by 1,971.2% during the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares during the period. Vanguard Group Inc. raised its position in Automatic Data Processing by 4.4% in the 1st 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 during the last quarter. APG Asset Management N.V. raised its position in Automatic Data Processing by 59.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after purchasing an additional 657,209 shares during the last quarter. Mackenzie Financial Corp bought a new position in Automatic Data Processing in the 1st quarter valued at $53,405,000. Finally, Alliancebernstein L.P. raised its position in Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after purchasing an additional 485,320 shares during the last quarter.

In related news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Wednesday, November 8th. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Royal Bank Of Canada cut their price objective on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research report on Monday, November 6th. BMO Capital Markets cut their price objective on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Finally, Sanford C. Bernstein lifted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $111.43.

Shares of Automatic Data Processing (NYSE ADP) opened at $111.09 on Monday. Automatic Data Processing has a 52 week low of $90.45 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 40.61% and a net margin of 13.04%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.27%. Automatic Data Processing’s payout ratio is 57.87%.

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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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