Meyer Handelman Co. decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 12.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,534 shares of the business services provider’s stock after selling 15,100 shares during the period. Meyer Handelman Co.’s holdings in Automatic Data Processing were worth $10,711,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. TNB Financial bought a new stake in shares of Automatic Data Processing during the first quarter worth $582,000. Marathon Asset Management LLP increased its stake in shares of Automatic Data Processing by 9.0% in the first quarter. Marathon Asset Management LLP now owns 370,072 shares of the business services provider’s stock worth $38,086,000 after buying an additional 30,517 shares during the last quarter. First National Bank of Omaha increased its stake in shares of Automatic Data Processing by 22.3% in the first quarter. First National Bank of Omaha now owns 8,374 shares of the business services provider’s stock worth $857,000 after buying an additional 1,529 shares during the last quarter. First American Bank increased its stake in shares of Automatic Data Processing by 19.6% in the first quarter. First American Bank now owns 27,631 shares of the business services provider’s stock worth $2,829,000 after buying an additional 4,536 shares during the last quarter. Finally, National Pension Service increased its stake in shares of Automatic Data Processing by 2.8% in the first quarter. National Pension Service now owns 342,140 shares of the business services provider’s stock worth $34,956,000 after buying an additional 9,337 shares during the last quarter.

Automatic Data Processing (ADP) traded up 1.396% during midday trading on Monday, reaching $112.945. The company’s stock had a trading volume of 1,292,439 shares. The stock’s 50-day moving average price is $104.36 and its 200 day moving average price is $102.14. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The firm has a market capitalization of $50.18 billion and a PE ratio of 29.336.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share. Equities analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

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

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A number of brokerages recently weighed in on ADP. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada raised their price objective on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $108.00 price objective (up previously from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Robert W. Baird reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $104.96.

In other news, VP Donald Weinstein sold 1,933 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $197,127.34. Following the completion of the transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the transaction, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,620 shares of company stock valued at $9,435,757.

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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