Virtu KCG Holdings LLC decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 56.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,495 shares of the business services provider’s stock after selling 3,283 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Automatic Data Processing were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Acrospire Investment Management LLC purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at approximately $102,000. Proficio Capital Partners LLC lifted 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 buying an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at approximately $113,000. Grove Bank & Trust lifted 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 buying an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. lifted 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 buying an additional 32 shares in the last quarter.

Automatic Data Processing (NYSE ADP) opened at $111.53 on Tuesday. Automatic Data Processing has a fifty-two week low of $90.90 and a fifty-two week 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 EPS for the quarter, topping the 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 business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is currently 57.87%.

In other news, 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 transaction of $67,289.84. Following the transaction, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $390,256.02. Following the transaction, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here.

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A number of research analysts have recently issued reports on ADP shares. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Deutsche Bank AG reiterated a “hold” rating and set a $102.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Evercore ISI reiterated an “in-line” rating and set a $115.00 target price on shares of Automatic Data Processing in a research report on Sunday, August 20th. Bank of America Corporation increased their target price on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Finally, Royal Bank Of Canada decreased their target price on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $111.43.

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.

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

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