Gardiner Nancy B increased its stake in Automatic Data Processing (NYSE:ADP) by 1.9% during the first quarter, Holdings Channel reports. The institutional investor owned 19,322 shares of the business services provider’s stock after buying an additional 360 shares during the period. Automatic Data Processing comprises approximately 4.6% of Gardiner Nancy B’s holdings, making the stock its 3rd largest position. Gardiner Nancy B’s holdings in Automatic Data Processing were worth $1,978,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADP. Macquarie Group Ltd. increased its stake 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 valued at $2,353,000 after buying an additional 6,300 shares in the last quarter. First National Bank of Omaha increased its stake in shares of Automatic Data Processing by 22.3% in the first quarter. First National Bank of Omaha now owns 8,374 shares of the business services provider’s stock valued at $857,000 after buying an additional 1,529 shares in the last quarter. Marathon Asset Management LLP increased its stake in shares of Automatic Data Processing by 9.0% in the first quarter. Marathon Asset Management LLP now owns 370,072 shares of the business services provider’s stock valued at $38,086,000 after buying an additional 30,517 shares in the last quarter. TNB Financial bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $582,000. Finally, Oakmont Partners LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $1,005,000.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.08% on Friday, reaching $108.81. 4,639,179 shares of the company traded hands. The firm 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 one year low of $85.48 and a one year high of $121.77. The company has a market capitalization of $48.35 billion and a PE ratio of 28.26.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results 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. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. Equities analysts forecast that Automatic Data Processing will post $3.82 EPS for the current fiscal year.

The firm also recently declared 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. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%.

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Several equities research analysts have recently issued reports on ADP shares. Barclays PLC lowered their price objective on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a research report on Tuesday, April 25th. Argus lowered their price objective on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research report on Wednesday, May 31st. Evercore ISI reissued an “underperform” rating and set a $85.00 price objective on shares of Automatic Data Processing in a research report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. Finally, Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. 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 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 completion of the sale, the chief executive officer now owns 159,403 shares in the company, valued at approximately $15,941,894.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $16,114,340. 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 in 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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