Hemenway Trust Co LLC boosted its stake in shares of Automatic Data Processing (NYSE:ADP) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,386 shares of the business services provider’s stock after buying an additional 1,052 shares during the period. Automatic Data Processing accounts for 3.5% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 4th largest position. Hemenway Trust Co LLC’s holdings in Automatic Data Processing were worth $15,921,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ADP. Regent Investment Management LLC purchased a new stake in shares of Automatic Data Processing during the first quarter valued at about $336,000. Pinnacle Bank bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $695,000. Cribstone Capital Management LLC increased its stake in shares of Automatic Data Processing by 2,766.9% in the first quarter. Cribstone Capital Management LLC now owns 4,931 shares of the business services provider’s stock valued at $504,000 after buying an additional 4,759 shares during the period. Tompkins Financial Corp increased its stake in shares of Automatic Data Processing by 7.2% in the first quarter. Tompkins Financial Corp now owns 11,015 shares of the business services provider’s stock valued at $988,000 after buying an additional 739 shares during the period. Finally, Atria Investments LLC increased its stake in shares of Automatic Data Processing by 6.2% in the first quarter. Atria Investments LLC now owns 21,815 shares of the business services provider’s stock valued at $2,234,000 after buying an additional 1,283 shares during the period.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.08% on Friday, hitting $108.81. 4,639,179 shares of the stock traded hands. The stock has a 50 day moving average price of $106.27 and a 200-day moving average price of $102.61. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock has a market cap of $48.35 billion and a price-to-earnings ratio of 28.26.

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

The firm also recently declared 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 2.10%. The ex-dividend date is Thursday, September 7th.

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Several brokerages have issued reports on ADP. BidaskClub upgraded shares of 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 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. Stifel Nicolaus restated a “hold” rating and set a $108.00 price objective (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Robert W. Baird restated 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 restated an “outperform” rating and set a $105.00 price objective (up from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $104.96.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares in the company, valued at approximately $15,941,894.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares in the company, valued at $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 90,620 shares of company stock worth $9,435,757 over the last 90 days.

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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