Bancorpsouth Inc. held its stake in shares of Automatic Data Processing (NYSE:ADP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,050 shares of the business services provider’s stock at the close of the 2nd quarter. Bancorpsouth Inc.’s holdings in Automatic Data Processing were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADP. Acrospire Investment Management LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter valued at about $102,000. Proficio Capital Partners LLC boosted its position in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $113,000. Grove Bank & Trust boosted its position in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. boosted its position in shares of Automatic Data Processing by 2.5% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 32 shares in the last quarter.

ADP has been the topic of several recent research reports. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $110.00 to $105.00 in a research report on Tuesday, July 18th. William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. BMO Capital Markets restated an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Robert W. Baird restated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $111.43.

In related news, VP Maria Black sold 631 shares of the business’s stock in a transaction that occurred on Saturday, September 2nd. The shares were 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 directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here.

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Automatic Data Processing (NYSE:ADP) opened at $111.53 on Tuesday. Automatic Data Processing has a 12-month low of $90.90 and a 12-month high of $121.77.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. Automatic Data Processing’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share.

The firm also recently declared 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s payout ratio is 57.87%.

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.

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

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