Bessemer Group Inc. boosted its stake in Automatic Data Processing (NYSE:ADP) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,720,534 shares of the business services provider’s stock after purchasing an additional 17,403 shares during the quarter. Bessemer Group Inc. owned about 0.38% of Automatic Data Processing worth $176,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADP. BlackRock Inc. grew its position in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after acquiring an additional 28,201,085 shares during the last quarter. Vanguard Group Inc. grew its position in Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after acquiring an additional 1,430,863 shares during the last quarter. American Century Companies Inc. grew its position in Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock valued at $276,227,000 after acquiring an additional 912,528 shares during the last quarter. APG Asset Management N.V. grew its position in Automatic Data Processing by 59.3% in the second quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after acquiring an additional 657,209 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Automatic Data Processing in the first quarter valued at about $53,405,000.

Shares of Automatic Data Processing (ADP) opened at 108.16 on Friday. The company has a 50-day moving average price of $107.88 and a 200 day moving average price of $103.85. 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 $48.06 billion and a PE ratio of 28.09.

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 the Zacks’ consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. Equities analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current year.

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

In related news, VP Maria Black sold 631 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 10,550 shares in the company, valued at approximately $1,125,052. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the transaction, the vice president now owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,522 shares of company stock worth $4,953,609.

A number of research analysts have issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company reiterated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $107.81.

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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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