Logan Capital Management Inc. decreased its position in Automatic Data Processing (NYSE:ADP) by 51.6% during the first quarter, Holdings Channel reports. The firm owned 5,044 shares of the business services provider’s stock after selling 5,375 shares during the period. Logan Capital Management Inc.’s holdings in Automatic Data Processing were worth $516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goelzer Investment Management Inc. raised its stake in shares of Automatic Data Processing by 0.3% in the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after buying an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America raised 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 worth $178,000 after buying an additional 12 shares in the last quarter. Middleton & Co Inc MA raised its stake in shares of Automatic Data Processing by 0.4% in the first quarter. Middleton & Co Inc MA now owns 5,306 shares of the business services provider’s stock worth $543,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Automatic Data Processing by 0.6% in the first quarter. Parallel Advisors LLC now owns 4,495 shares of the business services provider’s stock worth $438,000 after buying an additional 26 shares in the last quarter. Finally, Moloney Securities Asset Management LLC raised its stake in shares of Automatic Data Processing by 0.5% in the first quarter. Moloney Securities Asset Management LLC now owns 5,777 shares of the business services provider’s stock worth $592,000 after buying an additional 28 shares in the last quarter.

Automatic Data Processing (NYSE ADP) traded up 0.3949% during trading on Friday, hitting $109.3301. The stock had a trading volume of 821,336 shares. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The stock’s 50-day moving average price is $106.07 and its 200-day moving average price is $102.56. The company has a market capitalization of $48.58 billion and a P/E ratio of 28.3974. Automatic Data Processing also saw unusually large options trading activity on Tuesday. Investors acquired 15,090 put options on the company. This represents an increase of 264% compared to the average daily volume of 4,143 put options.

Automatic Data Processing (NYSE:ADP) last announced 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 return on equity of 59.56% and a net margin of 17.24%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $3.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.09%.

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ADP has been the subject of a number of recent research reports. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Barclays PLC reissued a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. Evercore ISI lowered Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a report on Friday, June 2nd. William Blair lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Finally, BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.96.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of Automatic Data Processing stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now 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 the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. Over the last 90 days, insiders 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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