Jarislowsky Fraser Ltd decreased its stake in Automatic Data Processing (NYSE:ADP) by 6.1% during the first quarter, Holdings Channel reports. The institutional investor owned 253,320 shares of the business services provider’s stock after selling 16,586 shares during the period. Jarislowsky Fraser Ltd’s holdings in Automatic Data Processing were worth $25,937,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADP. Van ECK Associates Corp increased its stake in Automatic Data Processing by 6.2% in the first quarter. Van ECK Associates Corp now owns 7,950 shares of the business services provider’s stock valued at $814,000 after buying an additional 465 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Automatic Data Processing by 9.6% in the first quarter. Rafferty Asset Management LLC now owns 10,939 shares of the business services provider’s stock valued at $1,120,000 after buying an additional 955 shares in the last quarter. ZWJ Investment Counsel Inc. increased its stake in Automatic Data Processing by 1.1% in the first quarter. ZWJ Investment Counsel Inc. now owns 6,517 shares of the business services provider’s stock valued at $667,000 after buying an additional 72 shares in the last quarter. Polen Capital Management LLC increased its stake 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 valued at $639,992,000 after buying an additional 479,558 shares in the last quarter. Finally, BB&T Securities LLC increased its stake in Automatic Data Processing by 2.0% in the first quarter. BB&T Securities LLC now owns 111,611 shares of the business services provider’s stock valued at $11,428,000 after buying an additional 2,206 shares in the last quarter.

Automatic Data Processing (NYSE ADP) opened at 112.17 on Tuesday. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm has a market cap of $49.84 billion and a PE ratio of 29.14. The stock has a 50 day moving average of $104.36 and a 200-day moving average of $102.14.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Automatic Data Processing will post $3.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.03%.

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Several analysts recently issued reports on the stock. Argus upped their price objective on shares of Automatic Data Processing from $118.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Morgan Stanley downgraded shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $98.00 to $100.00 in a report on Thursday, August 3rd. Royal Bank Of Canada increased their price target on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.96.

In other news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $197,127.34. Following the completion of the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. 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.

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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