Victory Capital Management Inc. boosted its position in shares of Automatic Data Processing (NYSE:ADP) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,201 shares of the company’s stock after buying an additional 311 shares during the period. Victory Capital Management Inc.’s holdings in Automatic Data Processing were worth $1,488,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new position in shares of Automatic Data Processing during the second quarter worth about $68,548,000. Coho Partners Ltd. raised its position in shares of Automatic Data Processing by 45.8% in the second quarter. Coho Partners Ltd. now owns 1,270,547 shares of the company’s stock worth $116,725,000 after buying an additional 399,300 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Automatic Data Processing by 48.5% in the second quarter. Neuberger Berman Group LLC now owns 567,503 shares of the company’s stock worth $52,137,000 after buying an additional 185,297 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Automatic Data Processing by 20.2% in the second quarter. Schroder Investment Management Group now owns 897,118 shares of the company’s stock worth $82,418,000 after buying an additional 150,781 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Automatic Data Processing by 16.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 669,277 shares of the company’s stock worth $61,487,000 after buying an additional 96,192 shares during the last quarter.

Shares of Automatic Data Processing (NYSE:ADP) traded up 1.58% during trading on Tuesday, reaching $87.93. 1,011,079 shares of the company traded hands. The company has a 50 day moving average price of $89.12 and a 200 day moving average price of $89.30. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $96.00. The firm has a market capitalization of $40.11 billion and a price-to-earnings ratio of 27.07.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 28th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm earned $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing will post $3.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, September 7th.

A number of brokerages have recently issued reports on ADP. Wedbush began coverage on shares of Automatic Data Processing in a research report on Thursday, September 8th. They set a “neutral” rating and a $100.00 target price on the stock. Jefferies Group upped their target price on shares of Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. reiterated a “hold” rating and set a $93.00 target price on shares of Automatic Data Processing in a research report on Friday, July 29th. Citigroup Inc. reiterated a “neutral” rating and set a $90.00 target price (up from $89.00) on shares of Automatic Data Processing in a research report on Friday, July 29th. Finally, Robert W. Baird lowered shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $95.14.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 67,064 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $95.00, for a total value of $6,371,080.00. Following the transaction, the chief executive officer now directly owns 166,627 shares of the company’s stock, valued at approximately $15,829,565. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Deborah L. Dyson sold 898 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $88.06, for a total transaction of $79,077.88. Following the completion of the transaction, the vice president now directly owns 11,891 shares in the company, valued at $1,047,121.46. The disclosure for this sale can be found here.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

5 Day Chart for NYSE:ADP

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.