CENTRAL TRUST Co lowered its stake in Automatic Data Processing (NYSE:ADP) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,511 shares of the business services provider’s stock after selling 2,665 shares during the period. CENTRAL TRUST Co’s holdings in Automatic Data Processing were worth $4,766,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Automatic Data Processing by 1.6% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 21,603 shares of the business services provider’s stock valued at $2,213,000 after purchasing an additional 330 shares in the last quarter. Abner Herrman & Brock LLC increased its holdings in shares of Automatic Data Processing by 1.5% in the second quarter. Abner Herrman & Brock LLC now owns 109,040 shares of the business services provider’s stock valued at $11,172,000 after purchasing an additional 1,661 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Automatic Data Processing by 511.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 73,599 shares of the business services provider’s stock valued at $7,541,000 after purchasing an additional 61,567 shares in the last quarter. Woodstock Corp increased its holdings in shares of Automatic Data Processing by 0.3% in the second quarter. Woodstock Corp now owns 83,687 shares of the business services provider’s stock valued at $8,575,000 after purchasing an additional 240 shares in the last quarter. Finally, Somerset Trust Co increased its holdings in shares of Automatic Data Processing by 2.8% in the second quarter. Somerset Trust Co now owns 16,072 shares of the business services provider’s stock valued at $1,647,000 after purchasing an additional 441 shares in the last quarter.

In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,932 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the completion of the transaction, the insider now directly owns 46,256 shares in the company, valued at approximately $4,717,186.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $197,127.34. Following the completion of the transaction, the vice president now 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 90 days, insiders sold 45,522 shares of company stock valued at $4,953,609.

A number of analysts recently weighed in on ADP shares. Argus lowered their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Deutsche Bank AG reissued a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a report on Monday, August 21st. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI reissued an “in-line” rating and issued a $115.00 price target on shares of Automatic Data Processing in a report on Sunday, August 20th. Finally, BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $107.81.

Automatic Data Processing (NYSE:ADP) traded down 0.28% during mid-day trading on Monday, reaching $107.86. 656,877 shares of the company’s stock were exchanged. The firm has a market cap of $47.93 billion and a price-to-earnings ratio of 28.02. The stock has a 50-day moving average of $107.88 and a 200-day moving average of $103.85. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the company posted $0.69 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing will post $3.81 earnings per share for the current 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 given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 7th.

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Automatic Data Processing Company 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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