Shayne & CO. LLC lowered its stake in Automatic Data Processing (NYSE:ADP) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 19,586 shares of the business services provider’s stock after selling 718 shares during the period. Automatic Data Processing makes up 1.6% of Shayne & CO. LLC’s portfolio, making the stock its 7th largest position. Shayne & CO. LLC’s holdings in Automatic Data Processing were worth $2,007,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ADP. Coconut Grove Bank increased its stake in shares of Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after buying an additional 460 shares during the period. Grisanti Capital Management LLC increased its stake in shares of Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after buying an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at $113,000. Harbour Capital Advisors LLC acquired a new stake in shares of Automatic Data Processing during the first quarter valued at $176,000. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after buying an additional 12 shares during the period.

Shares of Automatic Data Processing (NYSE:ADP) traded down 0.49% during midday trading on Thursday, reaching $109.12. 1,387,950 shares of the company were exchanged. The stock has a market capitalization of $48.49 billion and a price-to-earnings ratio of 28.34. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company’s 50-day moving average price is $105.89 and its 200 day moving average price is $102.52. Automatic Data Processing also was the recipient of some unusual options trading activity on Tuesday. Traders purchased 15,090 put options on the company. This is an increase of 264% compared to the average daily volume of 4,143 put options.

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

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders 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 yield of 2.08%. The ex-dividend date is Thursday, September 7th.

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ADP has been the subject of several recent research reports. Argus decreased their target price on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research note on Wednesday, May 31st. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, William Blair downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $104.96.

In other news, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction that occurred on 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 directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael A. Bonarti sold 2,932 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the sale, the insider now directly owns 46,256 shares of the company’s stock, valued at $4,717,186.88. 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 three months.

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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