Ledyard National Bank trimmed its position in Automatic Data Processing (NYSE:ADP) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,445 shares of the business services provider’s stock after selling 120 shares during the quarter. Ledyard National Bank’s holdings in Automatic Data Processing were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Automatic Data Processing by 511.7% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 73,599 shares of the business services provider’s stock valued at $7,541,000 after acquiring an additional 61,567 shares during the last quarter. Woodstock Corp increased its holdings in shares of Automatic Data Processing by 0.3% in the 2nd quarter. Woodstock Corp now owns 83,687 shares of the business services provider’s stock valued at $8,575,000 after acquiring an additional 240 shares during the last quarter. Somerset Trust Co increased its holdings in shares of Automatic Data Processing by 2.8% in the 2nd quarter. Somerset Trust Co now owns 16,072 shares of the business services provider’s stock valued at $1,647,000 after acquiring an additional 441 shares during the last quarter. National Pension Service increased its holdings in shares of Automatic Data Processing by 10.0% in the 2nd quarter. National Pension Service now owns 376,403 shares of the business services provider’s stock valued at $38,190,000 after acquiring an additional 34,263 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Automatic Data Processing by 1.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 32,301 shares of the business services provider’s stock valued at $3,309,000 after acquiring an additional 450 shares during the last quarter.

Shares of Automatic Data Processing (NYSE:ADP) traded up 1.28% on Friday, reaching $108.16. The company’s stock had a trading volume of 1,804,401 shares. The stock has a 50-day moving average of $107.88 and a 200 day moving average of $103.85. The stock has a market capitalization of $48.06 billion and a price-to-earnings ratio of 28.09. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ 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 return on equity of 26.39% and a net margin of 8.67%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. On average, analysts expect that Automatic Data Processing will post $3.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.11%.

A number of equities research analysts have recently weighed in on ADP shares. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Morgan Stanley downgraded Automatic Data Processing from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $98.00 to $100.00 in a report on Thursday, August 3rd. Barclays PLC reiterated an “equal weight” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Tuesday, August 15th. BMO Capital Markets restated a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Citigroup Inc. restated a “neutral” rating and set a $110.00 price objective (up from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $107.81.

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In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,932 shares of Automatic Data Processing stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $299,005.36. Following the sale, the insider now owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The transaction 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 Automatic Data Processing stock in a transaction dated 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 in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,522 shares of company stock worth $4,953,609.

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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