Keel Point LLC maintained its stake in Automatic Data Processing (NYSE:ADP) during the first quarter, Holdings Channel reports. The fund owned 7,673 shares of the business services provider’s stock at the end of the first quarter. Keel Point LLC’s holdings in Automatic Data Processing were worth $786,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADP. Macquarie Group Ltd. increased its position in shares of Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock worth $2,353,000 after buying an additional 6,300 shares during the last quarter. Burke & Herbert Bank & Trust Co. increased its position in shares of Automatic Data Processing by 9.8% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 6,287 shares of the business services provider’s stock worth $644,000 after buying an additional 560 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Automatic Data Processing by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 141,822 shares of the business services provider’s stock worth $14,521,000 after buying an additional 1,700 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of Automatic Data Processing by 39.7% in the first quarter. Koshinski Asset Management Inc. now owns 3,123 shares of the business services provider’s stock worth $320,000 after buying an additional 887 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Automatic Data Processing by 2.5% in the first quarter. Quadrant Capital Group LLC now owns 3,126 shares of the business services provider’s stock worth $312,000 after buying an additional 75 shares during the last quarter.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.67% during midday trading on Thursday, reaching $108.93. 601,727 shares of the company were exchanged. The company has a market capitalization of $48.41 billion and a PE ratio of 28.29. The firm’s 50 day moving average is $105.89 and its 200-day moving average is $102.52. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. Automatic Data Processing also was the target of some unusual options trading activity on Tuesday. Stock investors acquired 15,090 put options on the company. This represents an increase of 264% compared to the average volume of 4,143 put options.

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

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 7th.

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A number of equities analysts have commented on the stock. Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday. BMO Capital Markets restated a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday. 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 research 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 research report on Thursday, August 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $104.96.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares in the company, valued at $15,941,894.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the business’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 sale, the vice president now owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,620 shares of company stock worth $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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