Loeb Partners Corp continued to hold its position in Automatic Data Processing (NYSE:ADP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,845 shares of the business services provider’s stock at the end of the second quarter. Loeb Partners Corp’s holdings in Automatic Data Processing were worth $599,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. grew its stake in shares of Automatic Data Processing by 0.3% in the 1st quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America grew its stake in shares of Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 12 shares during the last quarter. Washington Trust Bank grew its stake in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock valued at $348,000 after purchasing an additional 12 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Automatic Data Processing by 0.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 16 shares during the last quarter. Finally, Personal Capital Advisors Corp grew its stake in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 16 shares during the last quarter.

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In other Automatic Data Processing news, VP Maria Black sold 631 shares of the stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the stock in a transaction 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 transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,522 shares of company stock valued at $4,953,609.

Shares of Automatic Data Processing (NYSE ADP) opened at 106.80 on Friday. The company has a 50 day moving average price of $108.76 and a 200-day moving average price of $103.78. The stock has a market capitalization of $47.46 billion and a P/E ratio of 27.74. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77.

Automatic Data Processing (NYSE:ADP) last issued its quarterly 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 the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The company 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 7th.

ADP has been the topic of several analyst reports. Argus lowered their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. Evercore ISI reiterated an “underperform” rating and issued a $85.00 target price on shares of Automatic Data Processing in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their target price for the company from $115.00 to $108.00 in a research note on Tuesday, June 20th. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $107.81.

Automatic Data Processing 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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