Boys Arnold & Co. Inc. trimmed its holdings in Automatic Data Processing (NYSE:ADP) by 1.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,521 shares of the business services provider’s stock after selling 1,020 shares during the period. Automatic Data Processing accounts for about 0.8% of Boys Arnold & Co. Inc.’s holdings, making the stock its 29th biggest holding. Boys Arnold & Co. Inc.’s holdings in Automatic Data Processing were worth $5,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Automatic Data Processing in the first quarter valued at about $113,000. Grove Bank & Trust grew its holdings in shares of 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 purchasing an additional 170 shares during the period. Armbruster Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 32 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Automatic Data Processing in the first quarter valued at about $176,000.

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

A number of brokerages recently issued reports on ADP. Zacks Investment Research lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a report on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $109.25.

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Automatic Data Processing (NYSE:ADP) opened at 113.93 on Thursday. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock has a market cap of $50.63 billion and a price-to-earnings ratio of 29.59. The firm’s 50-day moving average is $109.64 and its 200 day moving average is $104.98.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ 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 company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company earned $0.69 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.00%. 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.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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