Whittier Trust Co. of Nevada Inc. reduced its position in shares of Automatic Data Processing (NYSE:ADP) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,370 shares of the business services provider’s stock after selling 1,175 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Automatic Data Processing were worth $2,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Vanguard Group Inc. boosted its position in Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares during the last quarter. BlackRock Inc. boosted its position in Automatic Data Processing by 1,971.2% in the first 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 last quarter. Alliancebernstein L.P. boosted its position in Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after buying an additional 485,320 shares during the last quarter. Polen Capital Management LLC boosted its position in Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after buying an additional 479,558 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after buying an additional 307,521 shares during the last quarter.

Automatic Data Processing (NYSE ADP) traded down 0.34% during trading on Friday, reaching $111.39. 8,109,438 shares of the company were exchanged. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The stock has a 50 day moving average price of $104.36 and a 200 day moving average price of $102.14. The firm has a market capitalization of $49.49 billion and a PE ratio of 28.93. Automatic Data Processing also was the target of some unusual options trading activity on Thursday. Investors purchased 15,442 call options on the company. This represents an increase of approximately 492% compared to the average daily volume of 2,609 call options.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. On average, analysts expect that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.05%.

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A number of research analysts have weighed in on ADP shares. Barclays PLC cut their price objective on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a report on Tuesday, April 25th. Morgan Stanley cut shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $98.00 to $100.00 in a research note on Thursday. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday. William Blair cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Automatic Data Processing in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $104.96.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the transaction, the chief executive officer now directly owns 159,403 shares in the company, valued at approximately $15,941,894.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 90,620 shares of company stock valued at $9,435,757 over the last 90 days.

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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