State Board of Administration of Florida Retirement System lifted its position in shares of Automatic Data Processing (NYSE:ADP) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 670,566 shares of the business services provider’s stock after purchasing an additional 1,000 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Automatic Data Processing worth $68,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Grisanti Capital Management LLC boosted its holdings in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 45 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Automatic Data Processing in the first quarter valued at approximately $113,000. Grove Bank & Trust lifted its stake in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares during the period. Finally, Armbruster Capital Management Inc. lifted its stake in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares during the period.

In other news, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock valued at $4,457,476 in the last 90 days.

Several brokerages have issued reports on ADP. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $108.00 price target on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $107.29.

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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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The company 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 firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 7th.

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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